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Up Up and Away, Again 3/3/23

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.

They keep managing to do this, while the market ultimately goes nowhere endlessly. Both stocks and bonds have rallied overnight and into the early morning hours. The 10 year yield has pulled back to 4% and stocks look like they are headed to da moon. The ES, 24 hour S&P fuguetures hourly bar chart now has a 5 day cycle projection of 4025. The 2-3 day cycle projection is only 4005. If this is another one of those 4 day numbers, then the 4025 area also looks about right.

The way the channels set up now, this thing would seem to have a date with 4025 around mid day in New Yak. But there’s also a ton of resistance suggested in the 3995-4005 range that they would need to crack. Doing so would clear the base of a nicely formed reverse head and shoulders pattern with a conventional measured move target of 4075.

The good news from the bear’s perspective is that 5 day cycle momentum has reached the area where these rallies have recently topped out. The bad news is that cycle oscillators aren’t quite there yet.

It looks like this.

Warning! Top Formation In Progress February 27, 2023

-fybt

And check out how Satan saved the 10 year yield.

-fyci

A pullback to 3.97 would not violate the uptrend. But if they break that, then 3.90 would be next. Who knew! Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023

Meanwhile, the yellow shit has scooped out a beautiful rounding reverse head and shoulders bottom. But to activate launch sequence, it needs to clear 1855. The hourly oscillator setup suggests that it’s likely. Buckle up. Gold’s Rebound Is Coming! February 28, 2023

-fyf5

For moron the markets, see:

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