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If This Is The Down Phase! 6/24/21

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Cycle analysis says that the 5 day cycle is now in a down phase, despite the ES fucutures being at a new high for this rally. If this is the down phase, I can't wait to see the next up phase. ūü§í¬†

The market never got close to the 5 day cycle projection of 4290 on the up phase. I can't rule out that it will get there belatedly. The 2-3 day cycle projection is now 4270. That wave is in an up phase. 

So it's a mixed bag, but one thing is plain. It's still an uptrend, a soft one, but up, nevertheless. Channel support is at 4244 as of 7 AM in NY. Resistance lines are at 4255, 4257, and 4263. If those are cleared, then the upper cycle projections would be in play today. If they break the uptrend, I would expect the market to give ground grudgingly, down to 4234. There's some air space below that if they can crack it. 

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Meanwhile,

Now The Balance Begins To Shift

 

Flying Blind, But They Warned Us

 

That Got Ugly Fast

Edited  by DrStool

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Apparently the market has found the perfect equilibrium price. 

Well, that'll do it for me. I got a long night ahead of me. Hidy Ho and Merry Christmas. 

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