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The Other Shoe 3/8/23

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.

It’s an Ed Sullivan moment.  A really big shoe.

Meanwhile, we’re home on the range again. The hourly cycle oscillators on the ES, 24 hour S&P futures say it’s a 5 day cycle low, 4 day variant edition. But the ES needs to clear 4000 to actualize that.

Otherwise, no dice. And if they take out the bottom of the range at about 3985, we could be in Crash City. The next stop would be down at 3920.  Mixed Bag of Signals Screaming, “Walk This Way” March 5, 2023

-hc0n

Meanwhile, the 10 year yield is headed down again. That’s because some money managers are using that $50 billion T-bill paydown that will hit their accounts tomorrow to extend maturities. The big test will again be around 3.90, as you can see on the hourly chart.  February Withholding Taxes Say – Fade the Jobs Report! March 2, 2023

-hc1i

The hourly gold chart is horrific. Does it need to hold the low here. Why, yes. Yes it does.

-hc2j

Gold On Cusp of Brutal Outlook if This Happens March 8, 2023

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