I just finished an update on the key banking indicators and other monetary indicators, in terms of what they tell us about the stock market trend. Very interesting!
One Banking Indicator Is Flashing Bright Red for Stocks
Meanwhile, the hourly chart of the ES 24 hour S&P futures looks like a failing bottom setup, with a 5 day cycle projection now pointing to 4410-15.
There are so many downtrending spport lines and levels that they’re making my head hurt. 4430, 4422, 4415 etc. But oh my, all that red. We know the dip buyers will appear somewhere. But where?
I’m heading out to explore beautiful Antwerp again, the most interesting, beautiful, and European of big European cities that most Americans have never heard of. It’s definitely worth a stop on your next European tour. I have fallen in love with the place and suspect that you will too.
Belgium is a bilingual country, but the languages are extremely regional. Here in Antwerpen, everybody speaks Dutch. Don’t even think of trying to speak French. 😁
So Tot ziens for now!
For moron the markets, see:
- One Banking Indicator Is Flashing Bright Red for Stocks August 16, 2023
- I Liked the Buys Better Than the Sells August 14, 2023
- The Calm Before the Storm August 14, 2023
- Gold Sets Up August 8, 2023
- All We Need is a Few Good Shorts August 7, 2023
- Under the Big Top August 7, 2023
- More Supply is Just a Lie But Withholding Weakens August 4, 2023
- Let the Scary Pictures On Primary Dealer Financing Do the Talking July 31, 2023
- Correlations Don’t Matter Until They Do, Like Now July 23, 2023
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