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5150 Is More than 5050 4/24/24

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The 5 day cycle projection on the ES 24 hour S&P futures is now around 5150. It looks like a better than even bet. At 5083, it's already more than 5050, right? 

The conventional measured move target of this rounded bottom base breakout is around 5200. I don't think we'll get there today, but I wouldn't be surprised if we did. On the other hand, if they stall at 5093, there would be more work to be done, with uncertainty creeping in to the mix. 


Gold should be entering its annual hibernation phase as the 9-12 month cycle tops out and heads into a down phase. Intermediate cycles are in down phases but I see no sign of a big drop.  Non-subscribers click here for access.

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