DrStool Posted March 30, 2022 Report Share Posted March 30, 2022 At 6:40 AM in New York, we've had a slight break of the latest, sharpest uptrend channel on the hourly ES 24 hour S&P futures chart. It's not a material break yet. I would consider the uptrend intact until the price drops below 4605. Even that would be a long way from signaling a downtrend. To even think about that, I'd need to see trading below 4575 during regular trading hours. There are 5 lines of sport between current levels and there. On the other hand, if the futures trade above 4640, it will be up, up and away again. The 5 day cycle projection range of 4665-80 would be a likely target. Sigh. Gold Can’t Hold March 29, 2022 Fragile and Dangerous Semi Blind Spot March 28, 2022 Screens Be Nimble, Screens Be Quick – They Were! March 27, 2022 Here’s Why This Will Be “The Rally that Fools the Majority” March 26, 2022 Seven and a Half Weeks of Bullish Liquidity Ahead March 19, 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. Meanwhile, Buttcoin (BTC) has risen to multiple resistance levels, including its 200 day MA. If BTC clears 50,000, crypto bears like me are going to look pretty foolish. The Euro has inflicted a knife wound on shorts the past two days. I was a buyer yesterday. I still need to move about 60% of the amount I need for my real estate purchase in France. It just got a whole lot more expensive. Today is a day of wishin' and hopin'. Wishin and hopin that a reversal develops below 1.1166. I've been reduced to watching the 5 minute bars during the day. Realistically, I don't think my chances are good. If there's no break of the uptrend today, I'll have to go all in. A strong EUR/USD will be a long term problem for me. I'll need to become a currency futures hedger, I guess. One more layer of work that I don't need. A tout à l'heure. Link to comment Share on other sites More sharing options...
The CoinGuy Posted March 30, 2022 Report Share Posted March 30, 2022 I'm just going to post this simple chart as "food for thought". Let's take that pattern we've been discussing in the current DJI chart and the topping pattern from 2008 in the SPX AND tweak it a little bit. Here it is pulled back and expanded on the left and BTC on the right... If you have the time...it's worth the thought. I'll be expanding on this as we go forward. Just another variation...there are two more. Back to the business at hand. TCG oh...and... Just yesterday I alluded to symmetry from the left shoulder and the right with our little rev H&S pattern we've been speaking about. Perhaps...there is more than one type of symmetry? Huh? Let me introduce another topic that I mentioned in my chart from Stools Gold yesterday. Compression. Link to comment Share on other sites More sharing options...
DrStool Posted March 30, 2022 Author Report Share Posted March 30, 2022 Finally, a decent reversal pattern on the hourly. It just needs to break down. Link to comment Share on other sites More sharing options...
DrStool Posted March 30, 2022 Author Report Share Posted March 30, 2022 Zooming in a bit, you see the uptrend holding so far. Link to comment Share on other sites More sharing options...
DrStool Posted March 30, 2022 Author Report Share Posted March 30, 2022 Going into the bell, the uptrend is intact. Bonne nuit, et bonne chance! A demain! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.