ES Morning Update September 25th 2024
I didn’t write a post yesterday as there was nothing to add that wasn’t covered on Mondays post. Same thing for this post as nothing is going on but sideways chop, which of course makes another bull flag. But, the “time” is running out for the bullish period as by the end of this week it will be over with from a cycle point of view and then the market will enter a bearish period.
So it doesn’t really matter to me if the bulls breakout again from this bull flag and run a little higher as their time is coming to an end soon. Maybe we get that last squeeze higher tomorrow after the Jobs numbers and/or GDP, and then Powell speaks at 9:20 am too, so he might try to lift the market higher? It’s a bull flag building so all it really needs is a spark to get it to pop but I don’t think it will last past the end of this week, and if it happens it will just be another “better entry” spot to get more shorts.
Have a blessed day.
Source: http://reddragonleo.com/2024/09/25/es-morning-update-september-25th-2024/
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