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Monday’s Bear Market Will Surely Pay You Back on Tuesday 12/1/20

Bears are wimpy. They can’t even stick to it for a whole day any more. Let’s face it. We’re pathetic.

I came into yesterday long in my trading account, which I no longer day trade because all the money is made overnight, and NY days are spent in atrial fibrillation. So I gulp and hold. I went out yesterday longer than when I came in.

It sucks, but gotta not fight the tape, and not fight the Fed. Even on days when the Fed ain’t pulling its weight, like yesterday and Tamara.

Here for your viewing pleasure is today at 6:40 AM in NY. My reading of this says that we are testing the high, and have hit a 5 day cycle projection of 3634. So they “should” pull back. BUT, the hourly indicators are bullish. And the 2-3 day cycle projection is 3695.

A breakout could lead to a fearsome move. This whole pattern from 3500 to 3660 could be seen as a base for a launch to 3800+.

3665 and 3668 are the Maginot Lines.

Follow my intraday snark at the Stool Pigeons Wire.

And for the bigger picture visit Lee Adler’s Liquidity Trader:

In Weakness, There is Strength, and Other Gibberish

From Whence Cometh Gold’s Rally

 

Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, 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. 

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