Definitions from Oxford Languages
gerund or present participle: wending
go in a specified direction, typically slowly or by an indirect route. “they wended their way across the city”
Merrily we wend along, wend along, wend along
Heading for 4613.
The latest 5 day cycle projection.
The measured move target of the base breakout was 4600-4610.
Hey, why not!
Unfortunately for bears, if they break 4494.80 on the ES, S&P fugutures, that would make a higher high, which would confirm an uptrend and call into question whether we are in the first leg of a bear market.
The purple line on the chart is buttcoin. Stocks had been the buttcoin with a one or two day lag until last week. Since I noticed that, now they’re out of sync, of course.
Here’s the daily chart of BTC. It’s at a very interesting juncture as it attacks the upper channel parallel. A move above 45,500 would be bullish. Below 43,500, bearish.
Meanwhile the bond bear market, which I called almost from the beginning, is now 18 months along, and still in its early stages, in my view. The 1 year cycle projection is 2.0-2.10 and the high base breakout conventional measured move target is 2.35-2.40.
This time, I don’t think the Fed has a magic bullet out of this.
Don’t Be Fooled, The Economy is Still Growing And Still Bearish
On to the yellow stuff, Goldilocks some gains. This is the hourly view. Rising steadily, but still stuck in this infernal range.
That’s all for now, folks!
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