Ringling Brothers Couldn't Top This 3/20/24

[DrStool]

The circus is in town today. Elephant droppings will be everywhere. Ringmaster Jerome Powell will lead the clowns as they parade around the ring, entertaining the crowd who will oooh and ahhh and laugh at their next trick and pratfall. The bigtop opens at 2 PM in New York, but the center ring won't be in full swing until the ringmaster shows up to whip the crowd to a frenzy at 2:30. The stock market will twist and turn with nervous anticipation, with trepidation followed by paroxysms of wild cheering as the acrobats fly through the air with the greatest of ease. 

So we wait for their arrival. Meanwhile the 5 day cycle projection has now vectored steadily toward 5215. Whether it comes before, or after the show, is the only question. 

The chart of the ES 24 hour S&P futures shows "just a bit" of resistance at 5188. Piece a cake. Once the break that, that big high base pattern breakout would have a conventional measured move target of 5270-75. 

Just sayin. 

Wuz this wrong? Swing Trade Screen Picks – Adding Stops to Take Profits That's the nice thing about trailing stops. As long as the price continues to trend in the right direction, you stay in. 

For moron the markets, see:  Swing Trade Screen Picks – Adding Stops to Take Profits March 17, 2024

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• Tax Collections Took Off in a Stunning Reversal in February March 3, 2024
• We Don’t Need No Stinkin’ Fed – We Make Money from Nothing February 26, 2024

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