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The ES, 24 hour S&P futures are still in a bullish pattern. Higher highs, with the exception of yesterday, so far, and higher lows, although the angle of ascent has decreased sharply. The action is now in a trading range of 4860-4903. We wait for the breakout either way to give us a sense of direction from here. There’s no doubt about it. The outcome is absolutely, positively uncertain.
Of course, on the bigger picture, not so much. It’s 5050 For Sure
Meanwhile, the Fed’s RRP slush fund fell to another new low yesterday at $551 billion. Tick tock. Primary Dealers Are Maxed Out Again
For moron the markets, see:
- Primary Dealers Are Maxed Out Again January 24, 2024
- It’s 5050 For Sure January 22, 2024
- Gold Hits Melting Point January 18, 2024
- Swing Trade Screen Picks – Ready for Blast Off or Dive Dive! January 17, 2024
- Weekly Bank Data and Fed Balance Sheet Say the End is Nigh January 16, 2024
- US Economy Didn’t Crash in December? January 4, 2024
- US Economy Crashed in December – Nope, See Update January 3, 2024
- This Chart Tells Us Exactly When the Bull Market Will End November 26, 2023
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