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What is he talking about? What excitement.
OK, so they took a breather yesterday, but excitement is coming. Trust me on that. I promise you. I just don’t know when, so it’s up to you to pay attention or you might miss it.
Meanwhile, I have posted the new chart picks for this week. Trade ’em if you want to, at your own risk. The way I’ve been going the past couple of months, probably better if you don’t. But hey! I’m due for a hot streak! Swing Trade Screen Picks – More Longs
This shelf they’ve been building on the hourly chart of the ES, 24 hour S&P futures looks like a launch pad to me, but they gotta get above 4368 for liftoff, and above 4375 to escape earth’s gravity and head for da moon. Otherwise, this rocket could end up in New York Harbor. I still think that it’s Not Just a One Week Wonder.
As for that crash in Treasury yields that Wall Street is so bulled up about, call me a shep tick. Close it below 4.50, then I’ll be a believer. Now? Not so much. They haven’t broken a significant trend yet. If they break 4.50, sure it’s been a good trade if you bought ’em at 4.90- 5% where we called an interim top. But as a long term hold? Fuggedaboutit! Treasury Supply Ain’t Going Away
As for the yellow relic, false hope springs eternal.
I suspect that the Bitcoin bros will have a similar experience soon enough. BTC has hit all upside intermediate cycle projections.
For moron the markets, see:
- Swing Trade Screen Picks – More Longs November 7, 2023
- Not Just a One Week Wonder November 6, 2023
- Fuggedaboutit! Treasury Supply Ain’t Going Away November 5, 2023
- Which to Believe, the BLS or Actual Tax Collections November 3, 2023
- Gold In the Mix November 1, 2023
- Swing Trade Screen Picks – Adding Longs October 31, 2023
- Here’s Why Macro Liquidity Still Signals Record Danger October 28, 2023
- Dealers Pull In Their Horns October 14, 2023
- The Rhymes of History September 24, 2023
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