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Stock Market Technical Outlook Today
The hourly ES 24 hour S&P futures chart is on the brink of a trend break at 6073 as of 6 AM ET this morning. If it breaks, the next trend spport line would be 6061. However, that’s all mostly a random noise zone. 6032 is more important. If they stay above that, then nothing has happened yet. Just a little pullback, early in the morning. Top Stock Charts: This Week’s Insights
Yesterday the ES almost nailed the 5 day cycle projection of 6095. They need to clear that to start another upleg . One caveat here is that if the ES holds at 6072 and hourly oscillators hold in the vicinity of the zero line, then the next upleg should be explosive. But the same potential exists on the downside, if the market first consolidates around here and then subsequently breaks. Any time the oscillators hover near the zero line for several bars, and then break or head back up, it usually is a sign that a big move is coming. Analyzing Short and Long-Term Market Trends and Patterns
Bitcoin Technical Outlook Today
In crypto, there are still no intermediate or short term cycle projections much above 100k for BTC. That’s after yesterday’s wild 10% swings where it looked like BTC might go straight to a million. For now, trend support is around 95,000. The only chance of beginning a reversal is if that breaks. If it holds, the daily cycle oscillators are in position to signal another big surge on the next upturn.
On the other hand, if 91,000 breaks, the next target would be support lines around 84k. Gold’s Trading Cycle Alignment Has Potential
FX Euro Technical Outlook Today
In FX, the EUR/USD has set up a nice potential short term bottom pattern. It needs to clear 1.06 to complete. The measured move target would be 1.08. That’s also an area of major resistance. Gold’s Trading Cycle Alignment Has Potential
Gold Technical Outlook Today
Gold has been working its way toward the tip of a triangle. When they get this far along, the tendency is to trickle out. Or when there is a trendline break, the move is short lived.
The bigger pattern is a beautiful head and shoulders. If they take out 2564, they could rock down to 2500 in a heartbeat. On the other hand, if 2625 holds, odds would favor the next big move being to the upside. Gold’s Trading Cycle Alignment Has Potential
Treasury Market Technical Outlook Today
4.17 is a moment of truth on the 10 year Treasury yield. Giant Gain in November Withholding Tax Collections
But meanwhile we have another record low in the Fed’s Deferred QE, Strategic Cash Reserve RRP Slush Fund (DQSCRRRPSF- pronounced dicksuckersf). The fund has leveled out recently, so to me, this is effective zero. But with plenty of cash in the Treasury account, and the debt ceiling coming back, they’ve already started paying down T-bills. They’re gonna pump up the DQSCRRRPSF until the debt ceiling impasse gets to or beyond the point of detonation and meltdown. Moron that here. Giant Gain in November Withholding Tax Collections
But first, a little hawktua on the big mid month coupon settlement. Ponzi Much? Understanding Treasury Debt and Market Fragility
For moron the markets see:
- Giant Gain in November Withholding Tax Collections December 4, 2024
- Gold’s Trading Cycle Alignment Has Potential December 3, 2024
- Analyzing Short and Long-Term Market Trends and Patterns December 2, 2024
- Warning Signs: Are Primary Dealers Indicating a Market Top? December 2, 2024
- Top Stock Charts: This Week’s Insights December 1, 2024
- Ponzi Much? Understanding Treasury Debt and Market Fragility November 20, 2024
