I just thought I’d say that. I don’t know if it is or not. But it could be.
Any moment could be.
But this one maybe moreso. Take a look what is potenially two downtrends coming together here on the hourly chart of the ES, 24 hour S&P fuguetures. What would confirm? First an hourly close before 4428, then another below 4420. It would give the bears a foothold. A Soft Round Bottom, or V for Violence
On the other hand, a strong push through 4446 could prompt a runaway bull stampede. Not likely with all the head traders still at their Hamptons retreats.
Meanwhile the 10 year Treasury yield has broken its short term uptrend. Well.. sorta. If it hangs around 4.15 for a few days or weeks, bondholders are gonna be in a world of hurt sooner rather than later. Check it out! Here’s Why This Is a No Clickbait Market for Primary Dealers
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
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.
