Whether this is a bear market rally or a new cyclical bull market matters not. My purpose here is not to fix the ills of central bank market rigging and excessive speculation. I’ll take whatever the market gives, and do my slanty headed best to report my observations accurately and without bias.
In this thread, we stick to the day to day. For the bigger picture, I invite you to join me at Liquidity Trader, where subscribers get my best insights on the big picture from the monetary liquidity, and technical perspectives. I have been known to get a few things right. 😊
Meanwhile, back here at Stade FC Capitalstool, today’s hourly ES S&P 24 hour fuguetures market chart looks like this. Up, as of 5:30 AM New York time. Ever optimistic European traders see only blue skies smiling at you. As always, the US looks to France, Germany, and the UK, for leadership and guidance.
OK. Not.
But here it is.
First things first, they broke a downtrend this morning. The shortest and next longest channels are bullish. The 2-3 day cycle projection is 3950. We’ve had a little stall here at 3930 this morning, although I don’t see why on this chart. It’s meaningless unless they drop back under 3914.
For moron the markets, see:
- Gold in Them Thar Hills, January 11, 2023
- Swing Trade Screen Picks – Low Conviction January 9, 2023
- You Think That Was The Bottom? Think Again January 8, 2023
- Withholding Taxes Are Soaring January 6, 2023
- Gold Has Begun a Cyclical Bull Market January 4, 2023
- Here’s Where Short Term Signals Either Confirm Bullish Or Else January 2, 2023
- Composite Liquidity Still Bearish, No End in Sight December 23, 2022
- May Gold Be Merciful Unto Us, Amen December 19, 2022
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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