First, this. Why Primary Dealers Net Short Fixed Income Is Now Bad News for Stocks
Now a look at the 4 hour bars for some perspective on just how significant yesterday’s selloff was. This is not a joke.
If this morning’s weakness sticks, the breakdown of the pattern of the past week would have a conventional measured move target of 5245. As for the big top pattern that is breaking down, I won’t go there, because that’s long term, which is anything longer than 3 days. I cover that in the weekly Technical Trader reports, the last of which was Topping on the Cake. Next one coming up early Monday.
Finally our regular look at the hourly ES we are looking at a 4 day cycle basis projection of 5320. A bit premature for a 5 day cycle projection. 2-3 day cycle projection is 5390, done. The bulls can save their ass here with an hourly close above 5402. It is possible because the hourly cycle oscillators are buried and due for a Dover Sole bounce.
Then there’s this. What’s bullish for bondholders is a problem for Primary Dealers, and a big problem for stocks. I explain why, and what to expect. Why Primary Dealers Net Short Fixed Income Is Now Bad News for Stocks
For moron the markets, see:
- Why Primary Dealers Net Short Fixed Income Is Now Bad News for Stocks August 1, 2024
- Stars Suddenly Align for Gold August 1, 2024
- Swing Trade Screen Picks – Letting It Ride July 29, 2024
- Topping on the CakeJuly 29, 2024
- End Stage Hysteria Breaks July 24, 2024
- The Sky’s the Limit July 18, 2024
- Picking Up Nickels in Front of a Steamroller July 9, 2024
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