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While I do have projections for some of the longer cycles, I can’t answer that question for today. It could be a little or a lot. The parameters to watch in the next few hours are 3857 on the upside for resistance, and 3787-3778 on the downside for sport. The measured move projection for the breakdown pattern of the past week is around 3650.
Although I don’t think we’ll get there this morning.
After lunch maybe. Breaking 3830 could lead to another plunge.
And check out the 10 year Treasury yield. It’s above 3.5% this morning. Here’s the 2 hour bar chart. This pattern measures to like, 19%. OK. not really.
What happened to all the deflationist bond bulls?
And let us not lose sight of BTC’s progression toward its ultimate target of 5000 below zero.
Meanwhile, the big picture:
- What a Whipsaw! Here’s How Big The Move Will Be September 19, 2022
- In the Goldrums September 16, 2022
- Fed Speeds Into Dead Man’s Curve, More Black Tuesdays Ahead September 15, 2022
- There Will Be More Black Tuesdays September 14, 2022
- Swing Trade Screens – Trailing Stops Did Their Job To Preserve Profits September 12, 2022
- I Heard It Through the Grapevine September 11, 2022
- Special Bulletin – T-Bill Paydown September 8, 2022
- Gold Won’t Hold September 7, 2022
- Withholding Tax Collections Collapsed in August But BLS Data Won’t Show It September 2, 2022
- Warnings of August Liquidity Crash Come to Fruition – Here’s What to Do August 28, 2022
- Has Rule Number One Been Repealed? August 18, 2022
- “As Good as It Gets” Was Good While It Lasted August 6, 2022
- Treasury Confirms Supply Tsunami We Expected – Will Obliterate Everything August 3, 2022
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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