DrStool Posted March 18, 2022 Report Share Posted March 18, 2022 That's right, the 3 day uptrend faces another test in the early going here. During the 5 to 6 AM hour in New York, the number to watch will be 4377 on the ES, S&P futures. If that holds, then the market could be in trending mode in these very short time frames that we watch, here at the Stool. If they break that level, then the 5 day cycle should enter a corrective phase today and tomorrow. How much correction will depend on what happens around 4362. If it holds, the down phase would play out as a consolidation leading to another up thrust. If they break that, then the next target would be 4320. I don't see much more than that on the downside in the near term. They came out of a very solid bottom pattern over the past month, that should strike fear in the hearts of shorts, and give the bulls false courage, every time the market sticks its head up. That means that when sport levels are tested on pullbacks, shorts will take the short gain, run for cover, and bulls will take possession for a little while. Here's how that looks on the 5 hour bars. This pattern could last for a month or two. I'll remind Liquidity Trader subscribers why, in an update to this that I will post later today. Don't miss an issue! Stay tuned to this station for late breaking news. For the big picture. Gold Holdings Consolidated March 14, 2022 Our Chart Picks Posted Record Gains Last Week March 13, 2022 Weakening Cycle Patterns in Stocks Portend Worse to Come March 13, 2022 Get Ready For Serial Market Crashes March 12, 2022 If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter. Link to comment Share on other sites More sharing options...
DrStool Posted March 18, 2022 Author Report Share Posted March 18, 2022 Attention. Man battle stations. Link to comment Share on other sites More sharing options...
DrStool Posted March 18, 2022 Author Report Share Posted March 18, 2022 So far, just pushing sideways. They now need to break 4363 to turn this bearish. Otherwise, it's just consolidation. I'm going apartment hunting. Ciao. Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 18, 2022 Report Share Posted March 18, 2022 6 hours ago, DrStool said: Attention. Man battle stations. as Roger Waters said......"who gives a $hit anymore" (the song playing right now on my internet radio....."Broken Bones")....speaking of Bones...... We are dead, JIM..... Link to comment Share on other sites More sharing options...
DrStool Posted March 18, 2022 Author Report Share Posted March 18, 2022 2-3 day cycle projection 4472. Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 18, 2022 Report Share Posted March 18, 2022 NO RED allowed any hour.........during US fraudex open hours Flo-Bot indeed....... Maybe the FED needs to raise rates another .25% to really jam it all higher...... >: AND ANOTHER CASE OF RIP IT THROUGH (4400) no questions asked....... Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 18, 2022 Report Share Posted March 18, 2022 Food for thought......in regard to Central Bank Policy and Inflation.... Once you can't afford food you won't need toilet paper....... therefore, there is no inflation........ Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 18, 2022 Report Share Posted March 18, 2022 So The FED PUT (4200) worked for them, again.... >: Anyone who was caught being short this week gets to cancel the trade, right? or is rigged........LME Link to comment Share on other sites More sharing options...
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