Stick Shift

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I worry when things go this well.

I declared 2900 as “key”. We got up to about 2890 in the wee hours of the morning. I’m glad I slept through that, because I guess at one point we were actually pushing green. But I woke up (late) just a few minutes ago to see we were plunging once more.

I like chart-friendly markets, but this one is getting downright eerie. I’ve whipped up a simple chart of the ES below. The arrows mark the (incredibly obedient) points of support and resistance. The tinted areas mark the place where the role changed from support and resistance.

Honestly, I’ve been doing this a very long time, and it’s rare that charts comply like this. It’s like they’re saluting.