Menu Close

Broken Sport 5/24/23

This is a syndicated repost published with the permission of Stool Pigeons Wire at 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.

I was on the train from Warsaw to Malbork, Poland, yesterday. Malbork is as quiet as Warsaw is noisy. In other words, really, really quiet. Just what the doctor ordered after 11 days of not sleeping thanks to the insane noise levels in one of Europe’s most crowded, overdeveloped, and certainly most car crazy cities. I mean, Barcelona is noisy, but Warsaw is, I think, noisier in more places.

Don’t get me wrong. Warsaw is a great city, and I loved living there in 2021, most of the time. It has some of the best restaurants I’ve experienced in Europe. The food, of all cuisines is generally great.

The cost of living on an American income is ridiculously cheap. I had a penthouse apartment in downtown Warsaw, with a fantastic view overlooking the north half of the city. The cost was equivalent to $650 per month, including all utilities. Fiber optic cable and wifi cost $15 per month. Groceries run about half of the US price. Prescription drugs and doctor visits are 80% LESS than in the US. That’s right. 80% LESS!

The city is a great cultural mecca. Its museums and historical sites are world class, and heart breaking for anyone with an interest in 20th century history. Especially for those of us with an ancestral connection to the country and region.

It’s a walkable city, although not particularly pedestrian friendly. Public transit is fantastic, and if you are over 70, like me, just hop on and don’t worry about buying a ticket. It’s free for us old farts! But virtually free for everybody. The regular fare is equivalent to about $1.10.

But with most apartments not air conditioned, you can’t just shut the windows to turn on the a/c to escape the noise.  It is draining after awhile. I’m glad to be in a quiet little city in the countryside for a break.

I’ll be on the road through central and northern Europe for another 3 1/2 months this summer.
If you are interested in European travel, please visit and enjoy my Instagram feed, 200 Days in Europe!

Meanwhile, bears finally made some noise on the Street yesterday. I had demarcated 4170 as the place where I expected sport to show up, but it didn’t. They broke it, and today might feel like it’s set up for more. BUT, as I’ve been pointing out, today is the idealized 5 day cycle low. And we’ve been teased before, not to mention tased before.

So we’ll see. As of 3:20 AM NY time, the ES, 24 hour futures are near a 5 day cycle projection of 4135. But a nice little top pattern has also broken down. It has a measured move target of 4075-80. There are multiple sport lines in the 4110 area. Given the likelihood of a 5 day cycle low in the early going today. I’d be on the lookout for a turn somewhere around there.

They just edged below an earlier low set yesterday. There are no positive divergences on the hourly oscillators yet, but they are buried at levels where the last couple of minor lows formed. So maybe we get a lower low here, but I’d expect a rally later.


For moron the markets, see:

If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam folder.

If you’re serious about the underlying forces of supply and demand that drive the markets, join me!

Join the conversation and have a little fun at If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Follow by Email

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading