This is water torture. Slowly eating away at the market, and our brains. Lulling the bulls to sleep with false hopes as they slowly bleed the pour animals.
But alas, it looks like it’s time for another hopeful 3 or 4 or 5 day cycle rally as the hourly oscillators turn up yet again on the ES, 24 hour S&P futures after they descended to a slightly declining trend sport line overnight. To show that this is anything more meaningful than the last couple of dead cat bounces they would first need to clear 3950, and then a little later, 3967. Otherwise, nothing doing, and more downside ahead in a day or three.
Warning! Top Formation In Progress February 27, 2023
Meanwhile, the 10 year yield has cleared 4%. And inevitably, it is going higher. Probably much higher.
This is the hourly chart. It’s pulling back to test the breakout. It should hold and then turn higher again.
Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023
Finally, last but not least, the yellow shit is building an incipient base on the hourly chart.
No surprise there. Gold’s Rebound Is Coming! February 28, 2023
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!
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 folder.
