DrStool Posted March 28 Report Share Posted March 28 There are no more operative red channels on the hourly chart of the ES 24 hour S&P futures. That means the only thing to stop a rally will be uptrending resistance or loss of demand momentum. A 5 day cycle projection suggests that that's likely around 5265, but the conventional measured move target of the reverse head and shoulders breakout looks higher. Depending on how its drawn, it could be 5270-5285. A 5 day cycle high is ideally due this morning, so after the expected rally, a couple of weaker days would be in order. Spport levels that would need to be broken to get anything going on the downside would be 5238 and 5224 for starters. If they clear last week's high of 5260, then we'll be looking at 5300 PDQ. For moron the markets, see: The End Is Not Nigh March 26, 2024 Don’t Stop Never Disbelieving March 24, 2024 Swing Trade Screen Picks – Stocks Barnburner Set for Conflagration March 23, 2024 Gold Enters Hibernation Season March 22, 2024 Primary Dealers Raise Red Flag March 20, 2024 Markets Create Money, Money Talks, Markets Listen Etc. March 12, 2024 The Magic of Rising Stock Prices Driving Liquidity, Driving Prices March 4, 2024 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 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. Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 28 Author Report Share Posted March 28 Just announced. Markets have closed early in observance of Good Friday. They are calling the pre holiday closure, Horseshit Thursday. Quote Link to comment Share on other sites More sharing options...
Jorma Posted March 28 Report Share Posted March 28 This isn't the market rounding the bases after a grand slam. It's David Bote rounding the bases after hitting a grand slam with 2 outs and 2 strikes in the bottom of the ninth his team behind 3 to nothing. Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 28 Author Report Share Posted March 28 Brutal Happy Easter and see you Monday! A lundi, Bon weekend, and bonne chance! Quote Link to comment Share on other sites More sharing options...
SiP Posted March 29 Report Share Posted March 29 Happy easter MF! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.