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The Channel Has Broken 12/22/22

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We can finally say, at 5:15 AM New York time, that the endless uptrend channel on the ES, 24 hour S&P fuguetures, that lasted a whole 2 1/2 days, has been pierced. This follows 5 touches or near touches of the channel's bottom trendline, not including the starting point.

It also appears that the idealized 5 day cycle is topping out on schedule. Hourly oscillators have edged over the top and begun to roll over. However, there's more work to be done to finish the job. That includes an hourly close below 3870, and being below that level when New York opens for regular trading. 

By the same toke in, if the ES holds above 3880 for the next couple of hours and is above 3890 in the first hour in NY, then this channel break will have been just another tease. The uptrend would remain intact until that lower line is broken conclusively. 

There's still a 5 day cycle projection of 3910 that bears need to worry about. Thing is, if it gets that far, then we'd have an even more impressive base breakout that would have a conventional measured move target of 3995. That's right 3995. Get yours today, before prices go up! 

OK, just kidding. Trade the charts, whatever the hell that means. In any case, may the farce be with you. 

zv-21

For moron the markets, see:

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I'm headed out for a trip to Lyon for the holidays. Will check in later if possible. 

If I don't see you before the weak end, have great holidays! 

Joyeux Noel and Hag Sameach!  🎅🏿 🎄 🕎

 

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Greatest speech ever.

We would need such a speech from any European Leader to adress it to their populace. First ask yourselve:“What can I do to solve my own problems? Can I educate myself more? Must I work harder? Must I work more? And only then, when you tried your very best, but you can‘t succeed, THEN ask for help by the state NOT before!

Instead european politicians give gifts to the people with money which isn‘t there. So they print. More and more and more.

 

 

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4 minutes ago, DrStool said:

I'm headed out for a trip to Lyon for the holidays. Will check in later if possible. 

If I don't see you before the weak end, have great holidays! 

Joyeux Noel and Hag Sameach!  🎅🏿 🎄 🕎

 

But… but… :unsure2:

You can’t leave us right now!

What about the channels, and the stick saves, and the 2-second candles, and the Marty Feldman’s eyeball?!?!

 

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1 minute ago, Mkucstars said:

Nice call there Doctor! Hope you made a mint this morning

I held my 15% short position overnight. Big plunger I am. LOL. 

We'll see how it goes. I'm leaving, but I'll leave these in place for now. Not a lot of risk. 

Not much reward either. 😁

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3 minutes ago, Jimi said:

But… but… :unsure2:

You can’t leave us right now!

What about the channels, and the stick saves, and the 2-second candles, and the Marty Feldman’s eyeball?!?!

 

I put you in charge in my absence. Just follow the yellow...

snow. 

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