WOW! Ya think?
Needless to say, now that a bastion of mainstream media financial “journalism” has made that brilliant deduction, no doubt the bond market is poised for a rally. Yes, the 10 year will hit 3%, but first they’ll take a pound of flesh from those traders who are short the Treasury futures.
As for what we usually do here, day trade the stonks, we’re going down down down. Down Down Down. We’re going down down down now.
The 5 day cycle projection on the ES S&P 24 hour futures is a nicely rounded 4200.
Here’s the 5 hour bar perspective on that. As you can see, there’s a nice sport convergence right at 4200 today.
No doubt we’ll get a spirited rally from there as the shorts, godblessemeveryone, skim some profits. I’d like to see them grow some balls and hang in there so that we don’t get these vertical rallies. That’s coming, but the memories of the great departed bull are still too fresh for shorts to hold their positions with diamond hands.
Meanwhile, in a matter of great import to me, because I live the Eurozone, the EUR just broke a 21 year trendline this month, and it’s broken shorter term support this morning. I’m holding on to most of my dollar assets for now. The Fed’s draconian tightening is removing dollars from the system leaving all those who borrowed dollars and must repay in dollars with a big short position in the dollar. That’s bullish for dollars until the ECB and BoJ get tighter than the Fed.
Gotta wonder when that will be.
If it stays below $107.50 today it could drop like a stone. If they recover above that, then a rally back to $1.09 or so would look doable.
Despite this inflation, seems to me that a dollar shortage ain’t great for the shiny yellow stuff either
I don’t think that it’s great for BTC either. The level to watch on that is 37,000-37,500. If that gives way, then this is almost certainly the top of that bubble, with much lower prices ahead.
And for the big picture:
- wing Trade Chart Pick Screens Flip Flop April 25, 2022
- Ugly Whipsaw Revives Crash Potential in Stocks April 25, 2022
- Tons of Cash, Not In Use, Signals this Huge Change in the Market April 23, 2022
- Sell Gold in May and Go Away? April 19, 2022
- Primary Dealers Still Long and Wrong, But A Gift Rally Looms! April 11, 2022
- Why March Withholding Taxes Showing Red Hot Economy Is Bearish April 3, 2022
- Fragile and Dangerous Semi Blind Spot March 28, 2022
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