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Market Down and So Is Capitalstool

You would think that I’d know the rule by now, If it ain’t broke, don’t fix it. The outfit that supplies my message board software at attached a giant notification to my view of the board that I needed to run an update.

Uh, no. I didn’t. It broke the board, and now it’s down, like the market.

These breakdowns happen too often. It’s not just them. It’s everything. From Windows to all of my content management software. Fortunately not the subscription management system which has worked flawlessly for 16 years.

I hope that doesn’t jinx it.

Ah, yes, the market.

As I alluded to here, Mr. Minus-chin rode to the rescue on Tuesday with a cash injection of $30 billion. He has more where that came from, a lot more, and I have no doubt that he’ll use it. You can read that post and another 90 days worth risk free. Try it, you’ll like it.

Hopefully, I’ll be able to get a thread started over on the Stool Pigeons WIre before New York opens, but if not, I’ll post here if there’s anything notable.

To start your morning, here’s the hourly of the ES. It’s kind of neutral at the moment. Bullish if it clears 3400, bearish below 3375.

Daily chart shows whiparound range 3300-3400. Bullish above, bearish below.

Meanwhile, get cycle projections from 2 weeks to 2 years, along with key support and resistance trends and levels, and long and short stock trading ideas at Lee Adler’s Technical Trader. Here’s the latest report.

This Time Isn’t Different Yet

Here’s why the other shoe hasn’t dropped yet, but where it might.

Technical Trader subscribers, click here to download the report.

Not a subscriber? Try Lee Adler’s Technical Trader risk free for 90 days!  

Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

  3 comments for “Market Down and So Is Capitalstool

  1. September 10, 2020 at 8:52 am

    Big rally on worse than expected jobless claims.


  2. September 10, 2020 at 4:56 pm

    I’m disappointed in my message board tech support. It seems to be non existent today as their software update crashed the board and tech support has been barely responsive.

  3. September 10, 2020 at 4:57 pm

    I hope to see one and all back at the Stool tomorrow. Have a great evening.

    From Zagreb, Croatia,

    Good night and good luck America, and all the ships at sea.

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