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What is This Strange Color on My Screen - 8/19/22

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I don't know what it is, but it's not green like always. On the green background it looks brown. Like the color of...

Never mind. 

The 5 day cycle projection is 4242. 3-5 day cycle oscillators have turned down from around neutral ground. That usually signals a big move. But here we are at the 5 week trendline on the ES, S&P 500 24 hour fuguetures. This should be sport. If they break it, then the bottom of the downtrend channel in that new color is at 4227 as of 5:30 AM in New York, dropping to around 4215 as of the NY close. 

This is the 2 hour bar look for perspective on the importance of this trendline. If they have an hourly close below -4246.8, that would complete a head and shoulders top pattern with a conventional measured move target of around 4175-80.

yscpj

Zooming in to the hourly, if the pullback holds here, and subsequently breaks the downtrend line at 4275 or so, then they'll probably make another run at 4320-25 today. Ugh. 

yscpt

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3 hours ago, DrStool said:

If they have an hourly close below -4246.8, that would complete a head and shoulders top pattern with a conventional measured move target of around 4175-80.

Done.

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4220 Hammer Time. 

ysgit

 

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Lately BTC leads. It was the tell. 

2 hour bars with ES overlay.  

ysgj5

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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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To make it interesting, they actually broke yesterday's red channel at the end. So I widened and tilted it just a hair and vwalalala. lo lo lo. 

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It's Jackie Gleeson Time on the 10 year yield. 

ysgk2

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