I’m just going to crawl into my shell.
Meanwhile…
The chart of the ES, 24 hour S&P fuguetures is still bullish with a 5 day cycle projection of 4340-50, despite a negative divergence in the hourly cycle indicators. But all bets are off if ES breaks 4300. Rally Broadens as It Gains Momo
But I guess I haven’t been bullish enough to satisfy some folks, despite my chart picks having an average gain of 10% on an average holding period of 3 weeks, on a 100% cash basis. No margin. No options. My 3 short picks last week hurt performance and look, at best, premature. I added stops to take them out if they continue to go wrong.
And yes, I did allude to the possibility of major bottom shortly after the low last October and affirmed it after a successful test. Liquidity Trader subscribers had the benefit of the supporting analysis and conclusions.
My thesis has been under QT, unlike the 12 years of QE, that there is not enough liquidity in the system to support simultaneous bull runs in stocks and bonds. If the 10 year yield drops under 3.70 here, that idea would be tested. Investors Breathe Sigh of Relief But D-Day Is Now
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And now, I’m going to do some sightseeing in Budapest. Unfortunately, I’d have to rank this city at the bottom of my list of all the places I have seen in Europe. I just don’t like it. It’s pretentious, grandiose, devoid of charm, and the worst tourist trap I’ve encountered over all the time I have spent in Europe. Outside of the tourist districts it is dirty, decrepit and dull, the remnants of 50 years of communist rule. People are generally sullen.
Tuesday I go to Prague. From what I’ve read, I expect to be wowed. But the reports on Budapest were all glowing, so I’m hoping that Prague isn’t all hype too.
Szia!
For moron the markets, see:
- Rally Broadens as It Gains MomoJune 12, 2023
- Swing Trade Chart Picks – Let Your Profits Run June 9, 2023
- Gold Set Up for This Cycle Low June 7, 2023
- Investors Breathe Sigh of Relief But D-Day Is Now June 6, 2023
- Incomprehensible, That’s What You Are June 2, 2023
- Modestly Hedged Dealers, Record Short Hedge Funds Suggest Disaster Ahead May 25, 2023
- The Most Widely Forecast Economic Disaster In History May 16, 2023
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