A stalled, messy, rangebound market leaves a chopped up chart picture on the ES 24 hour S&P futures. But a 5 day cycle projection points to 4400. So I have both longs and shorts in my trading port today. Of course I expect to profit from neither. Trading is not my for tay. Anal is is, yes! . Cycles Still Lean One Way, Not t’Other
There are mostly green channels on this chart. There’s one little red flag, literally. If the ES is above 4367 at the NY open, then it’s a bullish red flag. Only if the market is below 4350 at noon ET, will the outlook be redder.
I won’t try to guess now which way this will tilt. I just hope to lift the right leg when the time comes.
Next, I asked my Magic 8 Ball if the US Treasury 10 year yield was heading for 5% and beyond. Here was the response.
Here’s one reason why. Dealers Pull In Their Horns
I then asked it if gold would again exceed 2000. It was less committal. It seems that it will withhold the answer until after today. When the Market Is Ready, an Event Will Appear
For moron the markets, see:
- When the Market Is Ready, an Event Will Appear October 16, 2023
- Cycles Still Lean One Way, Not t’Other October 15, 2023
- Dealers Pull In Their Horns October 14, 2023
- Veal Market – Baby Calves Get Slaughtered October 9, 2023
- Gold Breaks Down, With Long Term Implications October 5, 2023
- Tepid Tax Collections Mean It’s the Supply October 4, 2023
- The Rhymes of History September 24, 2023
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