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Monday Starts 5 Day Cycle Up Phase for Stocks 12/19/22


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It's an up phase, but how long and how strong it'll be are the questions. The answers to both are, "not very." For this up phase to get anywhere the boyz first would have to push the ES, 24 hour S&{ futures through resistance at 3872 and 3881. If they did that, the conventional implied measured move would be to 3925. And before the got there, there would be a resistance convergence at 3905 in the first half hour of regular trading in New York. 

Call me skeptical. 

If they can't get through 3872, we still have an unmet 5 day cycle projection of approximately 3785 to shoot for. There are vectors toward 3800 first, but I like the one to 3737. I think that if they roll under 3855, we'll be on hour way before New York gets started, and that they'll pile on. 

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2 minutes ago, DrStool said:

11 AM. ES down 22 and I'm the only one here all morning. 

Bearish, I'd say. 

You could be correct.

I have been covering some of my shorts on the downturn looking for a bounce to reload but if everyone is looking for the bounce... does it happen?  Will see what the action is like at 3,810.

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3 minutes ago, WTF said:

You could be correct.

I have been covering some of my shorts on the downturn looking for a bounce to reload but if everyone is looking for the bounce... does it happen?  Will see what the action is like at 3,810.

I've been adding all morning. Heavy now. That may not be a good thing.  

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