Tuesday, June 25, 2024

ES Morning Update May 29th 2024

Pretty much as expected yesterday... choppy. We went up, then down and by the end of the day it's a nothing day. I really don't have anything to add that wasn't said yesterday. We could swing up and down like this all week, and would could still be in a range from say 5200 to 5400, hard too predict the levels.

But I still don't see any big breakout that starts the next leg up to 6000+ as we need to pullback one more time before that happens. Now we could go sideways for another month I guess and that would reset the weekly enough to support a breakout that holds, and that's certainly possibly.

If that happens then the FP on the SPY is worthless I guess, or it's going to be hit later on many months from now. Could it be a low target for a fast flash crash like drop after we top above 6000? I guess anything is possible, so I can't rule that out. Maybe it's the low after a fast mini-crash into the November election? Could there be another false flag planned to keep Trump from winning?

The Demoncrats are very desperate right now so I would not put anything past them. I'm sure they are holding the market up too, and plan on topping it right before the election to keep Pedo Joe looking like it's doing it. Most Americans know better, at least I hope they do. Anyway, that's all I have. My lean is still toward the downside but every drop will likely be bought back up until the end.

Have a blessed day.

Red
Author: Red

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