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That’s the current 5 day cycle projection on the ES 24 hour S&P futures. It’s also a spport level, a hair above last week’s low. Meanwhile, hourly cycle oscillators are Dover Sole, down to the level where they bottomed last week. That doesn’t guarantee a bottom. If the continue lower here, it would suggest that you should don your crash helmets.
LEE ADLERFed balance sheet and banking data, along with Treasury supply data had previously shown the prospect for some stock market weakness around the enormous expected end of May Treasury coupon settlement. I warned about it in our last update of this data on May 13, which was headlined, “Why Sell in May and Go Away.” Non-subscribers, click here for access.
Subscribers, click here to download the report.
Last week, the Treasury confirmed the amount of the settlement that I had estimated. Over the past few days, we’ve begun to see the effects of that in stocks and bonds. But how bad will it be? This report answers that question, and shows you why.
KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality!
For moron the markets, see:
- June Swoon Called Off May 29, 2024
- Primary Dealers Raise Red Flag May 29, 2024
- Swing Trade Screen Picks – Plunging May 28, 2024
- Pause That Refreshes May 28, 2024
- Here Are the Projections for Gold’s Rally Highs May 22, 2024
- Icing on the Gold Cake May 10, 2024
- April Tax Collections Soared May 4, 2024
- The Fed Doesn’t Matter Any More May 1, 2024
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