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I Don’t Really Care 1/11/23

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.

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.

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For moron the markets, see:

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