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Where the US stock market is headed is another story, but I’m on a short day trip from Rennes to St. Malo today.
Last week was tough. I had too many winners on my chart pick list, so of course the market took back half the profit and then some. This is the second or third time the market has had a vicious reversal when the average profit on the list reached 9-10% over 2-3 weeks and virtually all picks were winners. Next time, I’ll just close them all out when the list hits that parameter. And of course that will be when the market crashes, if they are all shorts.
As for today, the uptrend channels in the ES, S&P fugutures are well established. ES must first break 4080, and then 4063 to create a potential reversal. If it holds above 4070, then we have a base breakout measurement to 4250. Ugh. But fear not. The 5 day cycle projection is only 4100. 3-5 day cycle indicators are in trending mode. Any intraday selloff that lasts a couple of hours should trigger sell signals.
Meanwhile, the big picture:
- 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
- Gold Miners Swing Picks August 26, 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- Has Rule Number One Been Repealed?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
- Withholding Tax Collections Solid in July, But Here’s Why the Party is Over August 2, 2022
- The Bond Rally That Fooled The Majority And Didn’t Help Dealers July 27, 2022
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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