The market pulled back to support, AGAIN, and bounced AGAIN. This bounce has triggered a 5 day cycle buy signal on hourly oscillators. However, the ES still needs to be above 5715 when NY opens to break the downtrend. If successful, then the next goal would be 5750-55 again. Moderating Bullish Outlook
I’m proud and pleased to say that we were able to see and warn over a month ago that the slowing economy narrative was false, and that the Fed was cutting short term rates into a red hot economy. And that this was a risk for the bond market. This didn’t require any special analysis. It merely required paying attention to actual, real-time data, not the made up shit that the Wall Street media touts. We could see, plain as day that the economy wasn’t weakening and that the narrative basis for Fed easing and buying Treasuries was completely bogus. On the other hand, the fact that the economy was generating plenty of excess liquidity without help from the Fed encouraged traders, investors and dealers to deploy cash willy nilly. Bonds were wrong and stocks were right.
Here’s Hard Evidence that the Slowing Economy Narrative is False September 8, 2024
Get Your Red Hots Here October 3, 2024
This is the thing about excess liquidity. It drives traders, mostly professionals, to go insane chasing anything that moves. We have to wonder if this might force a disorderly unwinding of the Treasury carry trade that we’ve been watching in our reports on Primary Dealer positions. Primary Dealer Clown Show Danger Pales in Comparison to Hedgie Daredevils September 11, 2024
I’ll be updating that next week.
Meanwhile, the massive run in gold has paused. Is this the beginning of the end, or just the end of the beginning? Signs that This Might Be the End for Gold 10/2/24
Lee AdlerAs of October 7 closing prices, the list had an average gain of 7.0% down from + 9.9% the previous week, on an average holding period of 25 calendar days, down from an average of 28 days. Non-subscribers click here for access.
Technical Trader subscribers click here to download the complete report.
Current screens yielded 228 short-term buys and an incredible 453 short-term sells. After applying long term trend structure and intermediate term filters, there were 48 buys and 104 sells. Non-subscribers click here for access.
I reviewed the charts. Setups on both sides were meh. I only found 1 pick on each side that I liked enough to add to the list. Non-subscribers click here for access.
3 picks hit stops since our last look. 2 will be closed at today’s open. I am letting the rest of the existing picks ride, with added or adjusted stops in some cases. Including the new picks, that will leave 16 open picks. I assume risk management through small position sizes and diversification. Your approach may differ. Non-subscribers click here for access.
To view the list and charts of open picks, Non-subscribers click here for access.
Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days!
For moron the markets see:
- Swing Trade Screen Picks – Lots of Sell Signals Again October 8, 2024
- Moderating Bullish Outlook October 7, 2024
- Get Your Red Hots Here October 3, 2024
- Signs that This Might Be the End for Gold 10/2/24 October 2, 2024
- The Longer This Goes On, The More Fragile It Becomes September 30, 2024
- Market Can’t Live By Repo Alone September 25, 2024
- Macro Money Blows the Roof Off September 17, 2024
- Primary Dealer Clown Show Danger Pales in Comparison to Hedgie Daredevils September 11, 2024
- Here’s Hard Evidence that the Slowing Economy Narrative is False September 8, 2024
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