DrStool Posted February 20 Report Share Posted February 20 But how many of us are lip readers? So we'll stick to the charts. For our purposes here, the chart of the day. That is the 24 hour ES, S&P futures, and looky looky. Not one, but count em, TWO red channels. If they break out of one, there's a backup to come to shorts' rescue. Or maybe not. The 5 day cycle projection is only 4970. And that is indeed a spport level around the time New York opens. If they don't break that, nothing doing, bears. On the other hand, to break downtrend channel number one, they only need to be above 4988 at the NY open or 4980 at the close. The second channel is more of a challenge. The top line is at 5003 at the open and 5000 at the close. If they clear that, then 5010-20 would be next up. Not much to get excited about either way. But with a 5 day cycle low due, the odds favor da bulls. Whlat Charts Say- Read My Lips, One More Rally LEE ADLER 2 - TECHNICAL TRADER FEBRUARY 20, 2024 There are indications of top formation in the 6-month cycle and 6-8 week cycles. But projections suggest at least one more rally with new highs targeted around xxx xxxx. The 10-12 month cycle high isn’t due until xxxxxxxxxxx, with the projection widening to xxxx-xxxx. Non subscribers click here to access. Technical Trader subscribers click here to download the complete report. In the short run, the 13-week cycle still has time on the meter for its up phase, with a projection of xxxx and a high due in xxx xxxx xxxx xxxxx. Non subscribers click here to access. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! Meanwhile, they're trying to pull off a rally in the bond market. They gotta get below 4.24 on the 10 year to succeed. Otherwise much higher yields dead ahead. Market Sentiment vs. Liquidity Reaches Historical Hysterical For moron the markets, see: Charts Say- Read My Lips, One More Rally February 20, 2024 Market Sentiment vs. Liquidity Reaches Historical Hysterical February 19, 2024 Swing Trade Screen Picks – List Recovers Both Ways.February 15, 2024 With Modest Hopes for Gold, 4 Mining Picks to Swing February 13, 2024 This Will Be the Week That Was February 11, 2024 What’s Up with Down Withholding Tax Collections February 4, 2024 Primary Dealers Are Maxed Out Again January 24, 2024 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 folder. Link to comment Share on other sites More sharing options...
DrStool Posted February 20 Author Report Share Posted February 20 Link to comment Share on other sites More sharing options...
DrStool Posted February 20 Author Report Share Posted February 20 2 hour bar perspective. Link to comment Share on other sites More sharing options...
DrStool Posted February 20 Author Report Share Posted February 20 The little top pattern breakdown measures to 4060. Link to comment Share on other sites More sharing options...
DrStool Posted February 20 Author Report Share Posted February 20 5 day cycle low ideally due this afternoon. Link to comment Share on other sites More sharing options...
DrStool Posted February 20 Author Report Share Posted February 20 Nothing more bearish than a failed bottom. Link to comment Share on other sites More sharing options...
DrStool Posted February 20 Author Report Share Posted February 20 Back to the 2 hour bar perspective. Link to comment Share on other sites More sharing options...
SiP Posted February 20 Report Share Posted February 20 4 hours ago, DrStool said: The little top pattern breakdown measures to 4060. Nice misspelling Link to comment Share on other sites More sharing options...
fxfox Posted February 20 Report Share Posted February 20 Solaredge -22% after ze bell. If you ever wondered how a distribution pattern looks like look st the Solaredge monthly or weekly chart Link to comment Share on other sites More sharing options...
fxfox Posted February 20 Report Share Posted February 20 Teladoc and Palo Alto also cruzified after ze bell. Beneath the mattress it smells worse than at the fish market… Link to comment Share on other sites More sharing options...
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