Just a follow up on my prior observations, for if you thought any of those lines aren’t important, think again. Because the machines have clearly shown today just how important they think they are. To wit:
The above is a closer view of that original chart (e.g., S&P 500™ futures market) from the 8:30am ET time frame through the opening bell, to the close today via 15 minute increments as highlighted within the notated circle.
Hint: They’re also showing that they want to get back above, yet can not. That, from a technical perspective, is itself an ominous sign.
As always, we shall see. But that’s where we are, currently.
© 2022 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.