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Bulls and Bears Both Suffering Severe Whiplash 5/17/21

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Well I just filed my tax return. Phew!

Meanwhile, the market is taking a breather. 5 day cycle indicators are headed down but the index is only going sideways. That’s typically bullish. There’s still an unmet 5 day cycle projection of 4200 and in the last hour the ES fucutures just bounced off trend support at 4157.

$78 billion in Treasury coupons settled today, but the Treasury already funded all of it with massive T-bill paydowns last week, and this is Fed MBS settlement week, with another slice of $122 billion settling today and the rest Thursday. The bulk of it is done. The market is absolutely awash in cash.

https://liquiditytrader.com/index.php/2021/05/06/heres-why-we-should-sell-in-june-before-the-swoon/

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