Dangerous Hurricane Lee 9/6/23

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Is now building off the coast of A Frick A.  The question is whether it will pose a threat to the US. Stay tooned for fudder developments.

Meanwhile, I will be moving around today and won’t see much of you here until late. But let us note several signs of a market top formation. The first is the hourly chart of the ES, 24 hour S&P futures. It has a measured move target of 4465, give or take. 5 day cycle projection is also around there.

The second is the fact that nobody was here yesterday. That’s a contrarian top signal.

The third is that I am heavily long in my trading account.

That’s the best contrarian top signal I can think of. Classic BTFD Setup Or Not

And, My oh my! 10 Year Treasury Yield. Beware! Jobs Really Much Weaker Than They Say

For moron the markets, see:

• Classic BTFD Setup Or Not September 5, 2023
• Beware! Jobs Really Much Weaker Than They Say September 4, 2023
• Gold Makes Case for Synchronized Low September 2, 2023
• Last Week Was Solid, Adding Longs Now August 29, 2023
• Here’s Why This Is a No Clickbait Market for Primary Dealers August 24, 2023

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