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There is a very clear target for an AM low this morning if we are to see an AM low and then continuation upwards today. At the time of writing that area is at 1912-4 ES, and that target is at the rising wedge support trendline from last Thursday’s low. A break below there would open up a possible decent retracement but in this very bullish tape since last Thursday I won’t be holding my breath waiting for that to happen. – TARGET TRENDLINE HIT WHILE WRITING POST. ES Mar 60min chart:
Note from Tim: I just want it made clear that Slope’s beloved Strawberry Blonde composed the piece below, which I appreciate. To be clear, your permabearish friend (me) remains short, having bumped his positions from 50 to 75 this morning. Having said that……….
New “BUY” signals have just formed on the RSI, MACD and PMO indicators for:
