Yes, Happy Day of the Dead. It’s a national holiday here in France today, but in other parts of the world, it’s celebrated over two days. The big day is tomorrow in Poland
And on Wall Street.
In the US, it is celebrated with the two day FOMC holiday. Investor families get together on the second day of the two day festivus to wait for the Fedican to send a signal at 2 PM ET, and then for Load Jaysus to rise up on the balcony at 2:30. There he makes incomprehensible incantations to shouts of HalleleuJay from the adoring gaggle below, or in his Zoom Room during the days of Pandemic Awe.
And they’re all not fearing anything as they have been to the mountaintop of the golden bull and have seen the promised land of Crypton. Amen, HalleleuJay, their eyes have seen the glory of the coming of the Load, Jaysus. May the Load bless you and keep you. May the Load cause the light of his Countingness to shine upon you and be generous unto you. May the Load smiteth the bears, so that the bulls may again roam free again across the Street, free of special interest, unconstrained by tight money.
That is their prayer on this most special Day of the Dead.
Amen. HalleleuJay
And now, parishioners, please rise for the invocation.
I’ll tell you what. If this thing gets through 3915, and then 3929 as a last gasp line in the sand, we bears, will be in trouble. We have a conventional measured move target of around 4100 out of this month long base pattern that generated the current breakout. I don’t think we’ll get there today, but I wouldn’t rule it out over the next few days. The 5 hour bar chart sure looks pointed at that spot.
Certainly, there’s a ton of resistance indicated between 3929 and 3995, and the 5 day cycle projection points to only 3975-80. I’d put my money on there as a stopping point for the leading up to the Day of the Dead celebration.
Big picture stuff below.
- Bear Market Isn’t the Mirror of a Bull October 31, 2022
- Why You Should Stay Skeptical of Bullish Technical Signs October 30, 2022
- Swing Trade Screens – Operation Extrication October 24, 2022
- Signs of an Intermediate Bottom in Gold October 22, 2022
- Bears Beware, Treasury Buybacks Will Turn the Markets, Sooner Not Later October 21, 2022
- We Can Now Project When Fed Will Pause, But Not Reverse October 13, 2022
- Look Out For the Real Fallout of Declining Withholding Tax Collections – Part 2 October 6, 2022
- Look Out For the Real Fallout of Declining Withholding Tax Collections October 5, 2022
- Markets Face Catastrophe as Dealers Mitigate Too Little Too Late September 26, 2022
- Fed Speeds Into Dead Man’s Curve, More Black Tuesdays Ahead September 15, 2022
- There Will Be More Black Tuesdays September 14, 2022
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