In Germany, when crossing the street, everyone waits for the green walk light light, even when there’s no traffic.
France: Traffic light? What traffic light? Cars? What cars? Bah!
In German cities, cars have the right of way over pedestrians.
France: Cars? What cars? Bah!
In Germany if you want a glass of water with your meal, 3 euros.
France, 1 liter carafe ice cold tap water, corked, free.
In Germany, if you want ketchup with your burger or fries, €1.50 for a tablespoon. |
France free bowl of homemade ketchup from scratch.
German food: Fat and gristle
French food: Fat and more fat
Grocery stores in Germany: 1 per 3 square kilometers
France: 3 per square block
Fruit and vegetable stores and stands – France, 1 per block.
Germany: What is a fruit and vegetable stand? Vee haf REWE and ALDI.
Cafes in France- 10 per square kilometer
Germany – 12 per square kilometer
Coffee in French cafe: 3 tablespoons of strong espresso
Germany: Mug of dishwater, therefore Germans need more cafes than the French
Bakeries- tied, if you like pretzel bread.
Number of restaurants in French cities: A lot
German cities: More, the Germans apparently do not eat at home. More proof of that is the scarcity of grocery stores
Dinner Time in German towns: 5:30 PM (17:30). By 8:30 (20:30), everyone is home in bed. If you show up after 8 PM, too bad, restaurants and supermarkets are closed. You vill wait for breakfast, and you vill like it. Understood?
France: If you show up for dinner before 8 PM (20:00) you are rude and uncultured, probably American tourist.
That’s your travel guide for today.
Back to the business at hand, yesterday’s breakout on the hourly chart of the ES 24 hour S&P futures looked pretty convincing until it wasn’t. Look where it stopped. Right at a key downtrend line.
Then it quickly fell back under a couple of resistance lines it had just broken. That was the Sell-Mortimer-Sell moment. Until it wasn’t. Support broke, but that too was a false breakdown.
Old school conventional TA is a trap anymore. Now, first thing we must do when we see a break is look for the fake, because AI traders are smarter than we are. Apparently, only they know where we go from here, as the ES is at a maximum indecision point at of 5:15 AM NY time. Any trading between 4447 and 4497 will just be noise. Breaking one of those levels might be signal. Or maybe not.
The bulls have two factors in their favor. A 5 day cycle up phase should be starting. And hourly oscillators have mostly been making higher lows for a week, particularly versus last week’s low. That doesn’t mean that an upside breakout will follow, just that a downside breakout is less likely today than an upmove. But watch out if they take out 4447. Next likely stop, 4425.
Ciao for now. I’m going to Beethoven’s house for lunch.
German Hamburger
More of my travel photos at https://www.instagram.com/200daysineurope/
For moron the markets, see:
- 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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