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ES 1317 today or early tomorrow

 

That'll get cash index near 1325 strike for EXpiration

 

Low volume, crawl higher, yawn

 

Me thinks, all aboard and then sink back to 1260 range within a few trading days. Inventory buildup, new offerings, stock offerings have to hit the market over the next month, looks like the FED has been selling as well (slightly) with any support coming from ECB. Regardless of market sentiment real money flow will net negative over the next month in stocks.

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Maybe startin' to stall up here at ES 1310...but unless bears can reclaim 1300 pretty soon, could keep grinding higher...

 

see if crude is able to hold 100 here over the next 24 hours...if it does, century mark might be new launching pad...if it don't, then maybe bears got a shot at turning the tide.

 

lot of capitulationishness to the bull case in boardosphere...

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Maybe startin' to stall up here at ES 1310...but unless bears can reclaim 1300 pretty soon, could keep grinding higher...

 

see if crude is able to hold 100 here over the next 24 hours...if it does, century mark might be new launching pad...if it don't, then maybe bears got a shot at turning the tide.

 

lot of capitulationishness to the bull case in boardosphere...

 

Those Crude Shorter Anonymous meetings are sure getting empty.

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From the Wall Street Examiner Professional Edition Market Update Intro Summary- 4 weeks ago-

 

The 1260 area is an important resistance level by multiple methods. A breakout would confirm that key cycles are in gear

in up phases, headed for a cluster of projections in the 1310-1320 range, which could rise if there’s enough short term thrust.

graphic1359.png

 

 

 

 

The usual disclaimers about past performance yadda yadda notwithstanding, the cyclical projections have been remarkably consistent for the past 4 weeks, although they have moved just a bit higher over that time. If you want to know where they are pointing now, and when the indicators trigger sell signals, subscribe!

 

Get daily updates on the 4 week, 6-7 week, 13 week, 6 month and 10-12 month cycle projections and multiple time frame cyclical, regression channel, and equal width channel support and resistance chart updates daily in the Wall Street Examiner Professional Edition Daily Market Update and support your community. Join NOW!

 

 

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