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Another Bullish Pattern- 3/7/24

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What else is new? The pattern on the hourly chart of the ES, 24 hour S&P futures is bullish again. It's on its way to test the minor high of 5130. If they consolidate there, as I expect they will, the 5 day cycle projection would work out to around 5155, which would slightly exceed last week's high.

Meanwhile, any action, whether up or down, within the current range of 5082-5128 won't mean much until they break it, one way or the other. The current look shows that an upside break is more likely, but if it's to the downside, then I'd look to retest 5050, by no means a tossup.  The Magic of Rising Stock Prices Driving Liquidity, Driving Prices


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Dovish CBs around the world, excluding Boj are a bullish sign. This is bullish for gold which loves lower NOT higher interests rates.

Based on this pace/tempo we should reach 5800 by end of 2024 on SPX. Gold could rally towards 2500. Bitcoin, if goes thru 70k, could easily reach 100k usd.

Super bullish environment. What's not to like?

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