In my post the other day, I made the observation that the push higher appeared to be far more technical in nature than something calling of a return to “the moon.”
When I describe things as such many have have asked me later what do I really mean by that. Well, now that it’s been a day or two there seems to have developed a very instructive example. To wit:
The above is the S&P 500™ via the e-mini in 15minute increments. It was taken as I write this ~7:20am ET. What to notice from the above is just how the “market” is reacting in accordance to that red diagonal line. As one can see, said market appears to think its important enough to treat it as a stop or go line.
If you remember from the prior post when I originally drew it, that line was not there. I just pulled it lower from an earlier version and pointed it out and explained my reasoning. Since then the “market” has demonstrated that reasoning may have more validity than first implied.
As always, where things go from here is anyone’s guess, and guesses they are. However, technical analysis, when done properly, sometimes allows one to see around a corner a bit earlier than most, rather than, blindly stating like most talking heads on some business/financial outlet declaring “All clear, BTFD!!!” Nothing more.
As always, we shall see.
© 2026 Mark St. Cyr
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