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Subtle Signs Market is Weakening 4/11/23

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.

If you ask me, the market is getting weaker. Of course, I’m only talking about the hourly chart relative to time frames of a few days. I confine my work on the bigger picture to the Technical Trader reports. A kind individual took advantage of the risk free trial offer to that for all of 3 hours yesterday before canceling and requesting a refund. In his words, it looked like a bunch of spaghetti thrown against the wall. Obviously a deep thinker there, but can I help it if my work accurately depicts the market?

Seriously folks. Does it bother me when somebody criticizes my life’s work? Of course it does. I’m a sensitive guy. It hurts me deeply.

Just look at how many lazy, stupid, ignorant jackass, morons there are in the world who want to be spoon-fed Pablum and expect it to taste like truffles or caviar, or Kobe beef! Of course it hurts that there are so many schmucks who are too lazy to think. In a perfect world everyone would have the patience, intelligence, and curiosity to invest a little time to follow the flow of the work before deciding it stinks. But to decide it stinks before really sticking your nose in it? That’s just ignorant.

Even if it does stink.

In the meantime, I’ll keep on doing it the way I’ve been doing it for the 40 years I’ve been drawing technical stock charts on computers, and the 50 years that I’ve been doing cycle analysis. The first 10 were by hand with a pencil and eraser on Keuffel and Esser graph paper that spanned the wall of my study as I scotch taped one sheet to the next.

And so, because, admittedly, my work isn’t easy to understand, I toil on in obscurity. I do it because I love doing it. But it’s ok. I am comforted by the fack that nobody heard of Franz Kafka until after his death either.

As for the hourly spaghetti, on today’s menu, we have tagliatelle sprinkled with a little chopped beef. It’s in the fridge, but we’ll take it out for lunch and throw it in the microwave. Then eat it this afternoon.

In the meantime is the market being tenderized, to be ready to stick a fork in it? Hard to say. Momentum is waning on the hourly cycle oscillators, but the low of the last little pullback yesterday was a hair higher than the one on Thursday.  The market is obviously rangebound, and equally obviously could go either way.

The spaghetti tells us that. Yes. The market may go up, or it may go down, from here. Where else can you find such deep insights?

The tell is likely to be what happens around the upper trend resistance line that will end regular trading hours today at about 4123. If they clear that, bulls in charge. If they don’t, bears have the ball and a shot. But to get in scoring position, they’d need to get under the sport level of 4095 by the end of today. Breaking 4107 would be a necessary first step.

Cycle Indicators Tell How to Play This Rally Now

-q-i8

For moron the markets, see:

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