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Premarket Trend Break 5/18/22

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This morning I went to the Office for Foreigners here in Nice and had my fourth vaccination, courtesy of the gouvernament. I would like to thank the French people for their generosity. Of course I will be contributing to the tax system also, as of this year. Through the nose, I hear. But it is worth every penny. What a country! I love it. 

Check out the photos from my neighborhood. All within a 30 minute train or bus ride, or walk, except for Toulon and Hyeres, which are a little road trip from here. 

 Meanwhile, back at the market, we have a little trend break here this morning as of 8 AM in New York, as the premarket trading opens. There's been zero follow through on that big beautiful 5 day base breakout. However, before you bears get too hopeful, if they hold above 4035, no harm, no foul. The uptrend would then likely reassert itself. Below that, bears ball. 

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For the big picture:

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5 day cycle projection 3935. 

2 hour bars for perspective. 

tvc_6a9ce0a66174f1d7f6ee5450106d8779.png

Technical Trader - Longer Term Big Picture

Lee Adler’s proprietary cycle analysis with market trend and position ideas for investors and weekly individual stock swing trade ideas for traders. Click here to subscribe. 90 day risk free trial!

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This is a spectacular failure of a bottom that broke out. This could be the crash we've been waiting for.

tvc_c96713c8fd83062132955092978af372.png 

Technical Trader - Longer Term Big Picture

Lee Adler’s proprietary cycle analysis with market trend and position ideas for investors and weekly individual stock swing trade ideas for traders. Click here to subscribe. 90 day risk free trial!

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More perspective. 5 hour bars. Yesterday was a classic return to the scene of the crime rally. This is classic bear market behavior.  We've had lower lows for 5 months and the mainstream fin media pundits still won't call it a bear market. 

tvc_c718bf08b31314585739dea30ed1ee98.png

Technical Trader - Longer Term Big Picture

Lee Adler’s proprietary cycle analysis with market trend and position ideas for investors and weekly individual stock swing trade ideas for traders. Click here to subscribe. 90 day risk free trial!

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Heh!

Equity bulls!

Either corporations eat their cost increases and suffer margin compression; or they successfully pass those cost increases on to consumers, who then have fewer available dollars to spend on the next corporation.

Either way, it doesn't play out well for you in any aggregate.

Ergo, your indices will suffer.

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