I see no sign of anything more than that on the intraday chart yet. Here it is, the 24 hour ES, S&P futures hourly chart.
I’ll be back.
Update 8:40 AM ET:
Well, I think they need a breather, but what I think doesn’t matter. They don’t think so, apparently.
Meanwhile, Treasury continues to pound the market with new T-bill issuance. Janet must be a magician. They have to be drawing down internal self debt at a rapid clip to do this. I need to do a deep dive on the Daily Treasury Statement to see how they’re doing it. Not sure it matters. The TA speaks for itself.
For moron the markets, see:
- Swing Trade Screen Picks – Bulls Win This Week January 30, 2023
- Stock Market Heads for the Super Bowl – Oddsmakers Pick the Bulls January 30, 2023
- Gold Takes a Breather January 27, 2023
- Composite Liquidity Should Be Bearish, Here’s Why It’s Not Right Now January 26, 2023
- Swing Trade Screen Picks – Energetic Buys and ShortsJanuary 23, 2023
- Nothing is BrokenJanuary 23, 2023
- Gold Going Higher January 18, 2023
- Swing Trade Screen Picks – Whoa! Just Wait Till Next Week! January 17, 2023
- Long Live the Bear. The Bear is Dead January 17, 2023
- A Funny Thing Happened on the Way to the Debt Ceiling January 16, 2023
- Withholding Taxes Are Soaring January 6, 2023
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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 the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
