Happy Monday!
I’m posting short and early as I wait for my train to Paris, where I’ll connect to a train to Rennes. I have enjoyed my week in Rouen, an unexpected surprise that was far better than I expected. It has shot right up to the top of my favorites list of cities in which to hang out. Just beautiful!
Rennes is a town I have visited before, and I really like it as well. In between trains, where I have to cross Paris. I’ll spend a few hours enjoying being there, as I always do, even when it’s just a brief stop.
In the meantime, there’s work to be done. Let’s start with this:
LEE ADLERBottoms tend to be ambiguous until the initial thrust off the low. This one is no exception. Non subscribers click here to access.
Technical Trader subscribers click here to download the complete report.
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Meanwhile, the hourly ES, 24 hour S&P futures chart is just a mess. Hard to guess which way it will break, but the 5 day cycle favors the upside until Wednesday. So there’s that. I’d guess that clearing 4430 would be the GO signal. On the other hand, falling below 4400 would open the door for another test of the low at least.
Meanwhile, the 10 year Treasury yield is testing its uptrend channel. It’s due for a pullback or more consolidation. That’s temporary. Here’s Why This Is a No Clickbait Market for Primary Dealers
Catch you later!
For moron the markets, see:
- A Soft Round Bottom, or V for Violence August 27, 2023
- Here’s Why Gold Needs 2020 Vision August 25, 2023
- Here’s Why This Is a No Clickbait Market for Primary Dealers August 24, 2023
- Weak Week but List Stays Net Positive August 22, 2023
- One Banking Indicator Is Flashing Bright Red for Stocks August 16, 2023
- More Supply is Just a Lie But Withholding Weakens August 4, 2023
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