Menu Close

Stocks Can’t Go Post Bonds – 3/29/24

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.

Monday reversed Friday and Tuesday morning reversed Monday. The hourly chart of the ES 24 hour futures is starting to look toppy as bonds stand poised to resume their recent selloff. An incipient 5 day cycle up phase has fallen apart, and suddenly there’s a rare red channel on the chart. The bottom of that channel drops from 5125 as of 8 AM ET to 5120 at 10 AM.

That should hold and generate a rebound. If it doesn’t all hell could break loose. If it holds, I’d look for a rebound back to 5140-45 before the selling returns in anticipation of Uncle Jay’s circus being a disappointing show as inflation takes on new life.  A Top is In, But Which One Is It March 17, 2024

141s6s

For moron the markets, see:  Swing Trade Screen Picks – Adding Stops to Take Profits March 17, 2024

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 Capitalstool.com. 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.

RSS
Follow by Email
LinkedIn
Share

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading