The May 19-23 anal log on the chart of the ES 24 hour S&P futures is on the verge of being crushed. There may be no flush. Instead, the bubbly inflated mass of s… s… uh… s- stocks! yeah that’s it! will simply float higher. Clearing 4273 might do it, although bears will have a final opportunity to force it down at 4275. Above that, squeezing will only force it higher in the tract.
And so it goes.
But is there any chance that bears could snatch the smell of victory from the jaws of the feet? Yes, but only if they can hold it here, and then if it drops down to 4254. If it drops below that, then the anal log would still be valid and it could then really let loose. Everything would go in the toilet. The Bulls Are Full of It
I don’t know how anyone could see things any other way.
Speaking of working out, looks like the hedgies’ record big Treasury market hedge may be working out. But the dealers are still net long. They’re always the ones who cause systemic instability and market crashes. Smartest guys in the room, my ass. Watch 3.89 on the 10 year. If they clear it, it’s gonna be trouble. Investors Breathe Sigh of Relief But D-Day Is Now
Gold? sigh. Gold Set Up for This Cycle Low
For moron the markets, see:
- Gold Set Up for This Cycle Low June 7, 2023
- Investors Breathe Sigh of Relief But D-Day Is Now June 6, 2023
- The Bulls Are Full of It une 4, 2023
- Incomprehensible, That’s What You Are June 2, 2023
- Swing Trade Chart Picks – Growing Long Side Gains June 2, 2023
- Gold Gets Closer to the Bottom May 30, 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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