Risk on Stock Market French Election Euphoria

SPX futures went euphorically higher as the DAX made an all-time high this morning. Currently the level of the SPX futs are near 2375.00. SPX is in the 84th hour of its Cycle which began at 2378.36. If the current EW reading is correct, it should reverse in the next three hours without overcoming its April 5 high. Last Thursday, Bloomberg noted, “European Central Bank officials signaled that their liquidity facilities remain available to counter any market tension that may arise in the aftermath of France’s presidential election, the first round of which takes place Sunday.”
The Market Oracle

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