Menu Close

If You Meet Captain Kurtz on the Road, Kill Him 7/19/21

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.

Because he’s a knockoff.  

 4 hours ago, Jimi said:

Captain Kurtz meets Robert Pirsig.

That’s what comes to mind when reading about your passage through Poland, Doc.

May you find what you seek.

UPDATE 11 AM ET:

Something’s happenin’ here. What it is ain’t exactly clear.

But a 5 day cycle projection

Has been hit and is already done.

Here’s the 2 hour bars for perspective. The breakdown from the top pattern measures to 4185.

tvc_0576f2e235f06051be0abef55a1ca57e.png

As I update the hourly bars, this chart makes a case for a 5 day cycle projection of 4225.

tvc_d82a3be39610590e4bf88915b570a89f.png

Earlier, 1:44 AM ET:

Meanwhile, it’s the middle of the night in New Jerk, Asia is in later afternoon trading, and Your Rope has yet to open. As usual, Asia has copied the US market and continued the selloff. They’ve almost reached an apparent 5 day cycle projection of 4290, and 5 day cycle indicators are getting bottomy, or, rather, bottomish.  No doubt Europe will reverse the overnight selling as the Europeans tend to be an optimistic bunch about the US fucutures. They also happen to be swimming in an ocean of ECB QE.

tvc_15c9676fbc8e41715e50629bc59c2c27.png

Finally, we have the rest of the Fed’s regular monthly MBS settlements, coming today and Wednesday, around $40 billion across the two days, on top of last week’s $83 billion. Most of that was funneled into the Treasury market. There’s evidence to suggest that that has run its course. I’ll be posting a short report on that over at Liquidity Trader Money Trends later today.

Don’t miss a market trick! Sign up today for a 90 day risk free trial.

Meanwhile, as for the longer term stock market technical outlook – Here’s What Friday’s Selloff Means for Our Future

If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

If you’re interested in following my photo journal, my latest shots from Warsaw, a dynamic, un-Europe-like city, are on my Instagram page.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share