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.
It certainly looks that way from the 2 hour bar perspective on the ES, 24 hour S&P futures. Meanwhile the market awaits the appearance of the FOMCircus ringmaster at 2:30 PM ET. The program for the show will be handed out a half hour in advance, as always. The market expects another rate cut. The Fed likes to give the market what it expects, justified or not.
Surprises are rare, but they do occur. Clowns sometimes do the unexpected.
For now, the setup looks bullish. Weekly Market Insights: Is the Market Waiting to Get Fed?
From the one hour bar perspective, I suspect we go to 6075 where they’ll go into wait and see mode. The critical resistance levels above that are 6085 and 6093. If those are cleared, then up and away. If not cleared, more slop.
In the bond market, the selloff found support when the 10 year yield hit 4.40. They’re in a pause there, but intermediate term cycle projections still point to 4.60 as the next target. Macro Liquidity Report: Key Market Trends & Insights for 2025
For moron the markets see:
- Macro Liquidity Report: Key Market Trends & Insights for 2025 December 17, 2024
- Weekly Market Insights: Is the Market Waiting to Get Fed? December 16, 2024
- Technical Trader Weekly Chart Picks: Top Swing Trade Opportunities This Week December 15, 2024
- Gold Chart Cycles Show Mixed Signals: Trading Range Continues as Long-Term Uptrend Remains Intact December 10, 2024
- Stock Market Outlook: Extreme Valuations, Liquidity Growth, and the Road to the Next Bear Market December 8, 2024
- Giant Gain in November Withholding Tax Collections December 4, 2024
- Ponzi Much? Understanding Treasury Debt and Market Fragility November 20, 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 Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam folder.
