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Too Many Sell Signals to Ignore 6/21/24

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.

This is interesting. $65 billion in paydowns with more likely to be announced next week. But look at that festering boil at the end of the month. Just waiting to be popped. How the market will respond depends on how much more cash is coming from T-bill paydowns next week, methinks.

Here’s the latest blueprint, posted yestiddy. Here Cometh the Grim Repo Man

As I mentioned yesterday, there were a ton of actionable sell signals from swing trade screens based on Tuesday’s close.  

  19 hours ago, DrStool said:

In my daily swing trade screens from Tuesday’s close, 44 charts were in buy setups and 72 were in sell setups.

But get this. 6 of the buy setups triggered.  27 of the sell setups triggered. Either that’s a big deal, or my algo sucks.

I spent the first couple hours yesterday laying on shorts. By late afternoon I was 2 to 1 short. It didn’t help. I got clobbered. But with my “system” I have to give these setups a week to play out for starters. If I’m not here next Friday, it’s because I jumped off a tall building.

Wait…

There are no tall buildings here.

OK, so I will gut it out.

As for today, the screens generated 44 buy setups of which 6 triggered. There were 32 sell setups of which 7 triggered. It’s a mixed bag that doesn’t show follow through on Tuesday’s bumper crop of sell signals. Makes me nervous, which is probably a good thing.

As for today. The S&P fucutures have broken a bit of spport at 5470, and set up a bit at 5457.  According to the New York Sun, yes, Virginia, there is a downtrend. But he will be killed above 5482. Prepare to say the Mourner’s Kaddish just in case.  As I will for my trading capital.

15a7c7

Today is the Fete de la Musique here in France. It’s a music festival for the entire country, coinciding with World Music Day. The square where I live is a major venue. Starting at 6:30 PM (12:30 ET) I will be subject to continuous, ear splitting, brain pounding electro-techno “musique.”

I will survive. At least, that’s what they told me in the 80s.

Of course, we are all well aware that that’s false, so have fun while you can. Do what you love. Follow your dream. If you come to a fork in the road take it. And rage against the dying of the light.

Just call me the King of Cliche.

A toot a lore.

For moron the markets, see:   

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