Pouring a New Subfloor on First Day of the Fall to Another Market “Bottom” – 9/22/22

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.

I have to get out of my apartment for a couple of days. They are pouring a new subfloor for my renovation. Hotel rates here in Nice are still high season stratospheric, so I’m looking for a comfortable spot under the arches at Place Garibaldi. There’s a nice community of old Polish fellows living there that I can join for a few days, considering that I speak a few Polish phrases. Ayyyyy! Jak się masz!

I just need to get some cardboard boxes at the Monoprix to make my bed.

During the day, there’s a business center café in the Hotel du Pin, across the street from my apartment, where I can hang out, do some work, and chat wit youse.  I hope they let me use the WC.

Meanwhile, today is, of course, 22 9 22 in European terms, a palindrome. The first day of Fall.  First day of the Post FOMC Circus Fall. But what about the rest of the Fall. Follow that story at Liquidity Trader.

I missed the dog and pony show yesterday. What did MC Cool Jay have to say?

It’s only 4:20 AM in New York, a little early to guess what the day will look like in the stock market. Yesterday’s head and shoulders top at a bottom breakdown measured to 3750ish. That’s done. But there was a bigger pattern that measures to 3650ish that suggests more downside. The bigger patterns are less reliable than the smaller ones, so I don’t know about that second target. 5 day cycle projection was overshot. There’s a 2-3 day cycle projection of 3730 still hanging out there, but hourly oscillators have upticked and an upturn is due on that cycle.

Considering all that, I’d lean toward today being a consolidation day. Likely range 3735-3825, or 3845 if the manage to punch out 3825.

Meanwhile, the big picture:

• Swing Trade Screens – Restrained Bearish Instincts September 20, 2022
• 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
• 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!

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.