That’s right. They bore us into submission. Then when we are all complacent that nothing worse will happen…
And the joke will be on us.
The question upon us this good day, my fellow ladies and germs is this. Is today the day?
Looking at this chart of the hourly ES, 24 hour S&P fucutures, the answer is YES! Yes, I believe it is. That doesn’t mean that it is. Only that I believe it. And if we all believe it together with all our hearts, there can be no question.
The market would rally.
So keep you skepticism and doubt, my fellow faint hearted bears, for it is on such doubt and hesitancy that the market will descend. For bulls it’s the slope of hope, and for bears it’s the descent by doubt.
Chow and amen! Pox vobiscum.
In all seriosity though, until the get out of this range of 3942 to 4019, go do something that’s fun, or useful, or productive.
Meanwhile, on the hourly 10 year Treasury yield chart, Satan returned to buy in size at 3.98 yesterday, solidifying the upper line of the range. Is this entity a bottomless pit of cash?
Well, for one, the Fed’s Strategic Cash Reserve is intact. Those with cash are sitting tight with their money on deposit here. That suggests that whoever is buying Treasuries is doing it with repo. Leverage, leverage, leverage baby! Although, I admit, there are other possibilities.
For moron the markets, see:
- Gold’s Rebound Is Coming! February 28, 2023
- Swing Trade Screen Picks – Can’t Touch This February 27, 2023
- Warning! Top Formation In Progress February 27, 2023
- Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023
- Gold’s Temperature Reaches Absolute Zero February 22, 2023
- Bears Challenge Bulls to A Duel – Here’s Who Gets Shot February 21, 2023
- You Can Now Follow the Diabolical Usual Suspects February 16, 2023
- One Gold Indicator Needs to Whipsaw or Will Signal a Secular Top February 14, 2023
- How Bears Could Take Charge This Week February 13, 2023
- US Treasury Throws A Shocker to Reverse the Stock Market Outlook February 9, 2023
- Withholding Taxes Fell Sharply in January February 3, 2023
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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