Preparing for 40 day cycle trough on ES futures
The time has come with today's news
Its necessary to take long trades as long as price is above 4550. If it goes above 4600, that is the sign that a new 40 day cycle has started. It could happen on volume with today’s news being filled with items, including Fed chair Powell talking.
Be prepared for shorting if it goes above 4600 and buy some magic reverses into the close, which is highly unlikely at this point after 10 days of sideways consolidation and the recent power (extreme bullish) of this 80 day cycle as a whole.
34 days is the perfect time to breakout above 4600 or at least move toward that direction for higher prices to 4750 peak area… then moving lower after that to close out this 80 day cycle which is due to end first week of January.
80 day cycle projection has been met by Wednesday’s move to 4600
news items can propel prices fast and far then inflect leaving everyone confused, such as up down movement, or down up moves
the 20 day FLD is below at 4550, leading price to 4500 as the 40 day projection target down, so watch for buyers at 4500
If the price accepts lower into next week, it will target the gap at 4435 on December contract, but this is doubtful to happen
Good luck with your attempt to catch this 40 day cycle move higher on news