Almost no one came here yesterday. Ghost town. Crickets.
Could it beeeeeeeee-eeeee eeeee?
THE TOP? One reason to suspect that they will Make it so, is that the May 19-22 anal log is still working out. This is the hourly chart of the ES, 24 hour S&P fugutures.
The next sound you hear may be what the French would call, Tirer la chaine.
Another reason is that today is day 4 of a 5 day cycle so the odds are as good as they get that the market will take a dump today.
As far as whether that might only be the beginning, only the beginning, whoa whoa whoa etc, I will leave a determination of that, here. But as a tease, here’s a 5 hour bar chart of the ES. Make your guesses below.
Now about those massive record hedge fund one way trade bond market hedges. Watch the 10 year yield. If it drops below 3.60, they’re gonna start being unwound. It could get wild. Moron that : Investors Breathe Sigh of Relief But D-Day Is Now
Reminder:
Coming soon to a bank deposit near you.
| Date | Security Type | Total Offering | Total Publicly Held Maturing |
Net New Cash or (Pay Down) |
|---|---|---|---|---|
| 06/13/2023 | Bills | $156,000 | $120,977 | $35,023 |
| 06/08/2023 | Bills | $123,000 | $101,998 | $21,002 |
To say nothing of the $57 billion in net new notes and bonds coming on the 15th.
Investors Breathe Sigh of Relief But D-Day Is Now
For now, th-that’s all, folks.
For moron the markets, see:
- Investors Breathe Sigh of Relief But D-Day Is Now June 6, 2023
- The Bulls Are Full of It une 4, 2023
- Incomprehensible, That’s What You Are June 2, 2023
- Swing Trade Chart Picks – Growing Long Side Gains June 2, 2023
- Gold Gets Closer to the Bottom May 30, 2023
- Modestly Hedged Dealers, Record Short Hedge Funds Suggest Disaster Ahead May 25, 2023
- The Most Widely Forecast Economic Disaster In History May 16, 2023
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