DrStool Posted September 10, 2021 Report Share Posted September 10, 2021 I'll start with the 2 hour bars this morning, for perspective. As of 4 AM in NY, the numbers to watch, progressively, for resistance, are 4518-20, 4525, and 4530. If those are cleared, the next target would be 4550, and that could happen fast. Looking at the 1 hour bars, the 5 day cycle projection would be 4520, if they can hold the 4510 area until 5 AM ET. If they clear it, then the projection could move higher. The hourly oscillators are mixed. It's not yet a strong sign that the rally will progress from here. For now, the trajectory of the current move is aimed at the resistance convergence around 4518 around the hour of the NY opening. More later. Now back to your local stations for your listening and dining pleasure. Or if you prefer something different, try these tasty morsels. Lots of Sell Signals But No New Picks From Friday’s Swing Trade Screen Gold’s Setup Has All Kinds of Potential Take the Threat of this Triple Whammy Seriously Now Here’s Why “Sell Rosh Hashanah, Buy Yom Kippur” Won’t Work This Year 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. Link to comment Share on other sites More sharing options...
DrStool Posted September 10, 2021 Author Report Share Posted September 10, 2021 Tax Data is Fact, BLS Jobs Data is Fiction Link to comment Share on other sites More sharing options...
DrStool Posted September 10, 2021 Author Report Share Posted September 10, 2021 Taking a whuppin as they tested the downtrend line. We now have a double inverted codpiece pattern. Potentially, anyway. I don't know what that means. If you do, let us know. Link to comment Share on other sites More sharing options...
Mkucstars Posted September 10, 2021 Report Share Posted September 10, 2021 Means "to the moon" will have to wait. Link to comment Share on other sites More sharing options...
Jorma Posted September 10, 2021 Report Share Posted September 10, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted September 10, 2021 Author Report Share Posted September 10, 2021 Nice. Notice the rising lows on the oscillators. Meaningful? Yes. And no. It depends. There. Isn't that helpful? Seriously, if they hold an turn up over the next 2 hours, bullish. But if they slip and these oscillators continue south, we'll be looking at 4465-68. Link to comment Share on other sites More sharing options...
DrStool Posted September 10, 2021 Author Report Share Posted September 10, 2021 This is really starting to look like a top when you zoom out with 2 hour bars. Link to comment Share on other sites More sharing options...
DrStool Posted September 10, 2021 Author Report Share Posted September 10, 2021 Hourly oscillators broke their uptrends. This is early 5 day cycle down phase. Bounce off the 3 day low, then another lower low ahead Monday or Tuesday. Link to comment Share on other sites More sharing options...
DrStool Posted September 10, 2021 Author Report Share Posted September 10, 2021 There it goes. Link to comment Share on other sites More sharing options...
DrStool Posted September 10, 2021 Author Report Share Posted September 10, 2021 2-3 day cycle projection 4444.444444444 Link to comment Share on other sites More sharing options...
DrStool Posted September 10, 2021 Author Report Share Posted September 10, 2021 Sorry. Key stuck. Link to comment Share on other sites More sharing options...
Mkucstars Posted September 10, 2021 Report Share Posted September 10, 2021 Amazon abuses pregnant employees. Apple gets smacked down on its app store. Not a good day for big tech! Everything selling off a bit, looks like it may follow through on Monday. Keep my shorts on or lighten up? Decisions decisions... Link to comment Share on other sites More sharing options...
Mkucstars Posted September 10, 2021 Report Share Posted September 10, 2021 Looks too weak not to hold on and too long since a nice downdraft. No balls no blue chips! Link to comment Share on other sites More sharing options...
jp6 Posted September 10, 2021 Report Share Posted September 10, 2021 44 minutes ago, Mkucstars said: Amazon abuses pregnant employees. Apple gets smacked down on its app store. Not a good day for big tech! Everything selling off a bit, looks like it may follow through on Monday. Keep my shorts on or lighten up? Decisions decisions... Everything was option driven. Next week will be very interesting. Will they delta hedge and limit their losses? When you look at VIX not much insurance was brought after 12 and Half years of Bull run (150 Months) So far nothing is broken. It will be broken in September. we will know when NYA takes out 200 MA Link to comment Share on other sites More sharing options...
Jimi Posted September 11, 2021 Report Share Posted September 11, 2021 5 hours ago, DrStool said: 2-3 day cycle projection 4444.444444444 Link to comment Share on other sites More sharing options...
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