Menu Close

Ten Market Rules to Forget 11/13/23

This is a syndicated repost published with the permission of Stool Pigeons Wire at 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.

  On 11/12/2023 at 9:35 AM, fxfox said:


I was a big fan of his during my days on the Street. Farrell never imagined that the Fed would engage in long term rigging of the stock market to only go up.

There are long periods when the general consensus is right.

Bear markets no longer have 3 stages, and they haven’t since the 73-74 bear market.

The “public” is actually institutional investors.

Exponential runs sometimes do correct by going rangebound.

The other points are generally still true, although obviously bear markets are a helluva lot more fun than bull markets. 😂

At Friday’s close I had thought that the ES, 24 hour S&P futures were headed straight for 4450, but this morning the hourly chart 5 day cycle projection has moderated to 4430, thanks to the Monday morning quarterback pre market trades where a few longs had second thoughts. So now the target is two resistance lines around 4430. If they start to turtle above that, then I’d expect 4460-65 this afternoon.  Meltup Gonna Take You Hiya


Over in the bond market, the 10 year Treasury yield is still in its uptrend channel, but also still losing upward momentum on the cycle oscillators. Maybe a little pullback to test the trend before the move to the upside in yield resumes. Fuggedaboutit! Treasury Supply Ain’t Going Away


The yellow relic remains its frustrating self, and the short term poor tents (down by the river) aren’t good. Gold Bullish Pullback But Miners Are Doubtful


For moron the markets, see:

If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam folder.

Join the conversation and have a little fun at If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Follow by Email