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Boston Moved, Philadelphia Moved, Brooklyn Moved, New York Moved 11/14/22

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.

The Braves, the A’s, the Dodgers, the Giants. And that was just baseball. They took the money and ran.  

  14 hours ago, fxfox said:

Seems like the game in Munich was a success.

in Europe it is absolutely unimaginable that a club is moved to a other city, but well that‘s why it is not called a „club“ in the US, but „franchise“.

I think the very old franchises can‘t be moved, or else the fans would run amok. Guess if ever the owner of the Yankees would move them to LA or so, he would be shot dead the next day or hanged at Times Sqaure.

What about the Eagles? How would Philly react? I remember when the Minnesota North Stars were moved to Dallas the fans were very angry.

The longest running, continuously operating professional sports franchise in one city? Philadelphia Phillies.

What does this have to do with today’s stock market?

Nothing. It’s like the economy, or inflation, or earnings. The market is about whatever hot idea Wall Street is selling at the moment, and how much liquidity is available to sustain that story. The second factor is by far the more important. The fact is that the Fed is still tightening which means that liquidity continues to grow more scarce. Any rallies must eventually face that reality. How do we know when “eventually” is?

Easy. When you come to a fork in the road, take it.

A look at the 24 hour ES, S&P fugutures tells us that they haven’t yet stuck a fork in this rally.

For starters, they would need an hourly close below 3969. That doesn’t look imminent. There’s still a 5 day cycle projection of 4030 hanging out there. Then we’ll see.

First, a look at the 5 hour bars to show you just how significant this 4015-4030 area is.

tvc_2ba9afc6392fdacfe0790e4fd2cf7423.png

And the usual hourly view shows the current sport levels. The magic 8 ball test says, Poised for breakout.

tvc_6ef1a529be8e287fa754c4c9e1a83c30.png

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