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Excitement Builds in the Market 11/7/23

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

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.

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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

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As for the yellow relic, false hope springs eternal.

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I suspect that the Bitcoin bros will have a similar experience soon enough. BTC has hit all upside intermediate cycle projections.

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For moron the markets, see:

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