Got your attention?
Does anybody really give a damn about it anymore? Or are we living in the past in this Crypto Age?
Gold Got There Fast But Race is Over
Meanwhile, the rangebound slop in stocks goes on and on.
I don’t like it, but have been trading it somewhat ok. Actually made a few bucks with a couple of oil servicers on the short side yesterday but went home long one little stock, about which I know nothing. Nothing. It’s just a chart that popped up on my screens and it looked like it might go up overnight. But overall, the pickins were slim. Real slim.
And so the hourly chart of the ES 24 hour S&P futures looks a little 2-3 day cycle toppy here, having not quite tagged an apparent cycle projection of 4585. There’s still a chance that it could make a run at a 5 day cycle high testing Tuesday’s high of 4599 by Friday. Coin flip, but I’ll take it. Just a feeling.
Over in the bond market, the 10 year yield has reached a 13 week cycle projection of 4.18. Here’s the long term weekly chart. Would you be a buyer of fixed income here. Wall Street has been telling us to buy bonds. Who are we to disbelieve them.
Then there’s this inexplicable correlation of the EUR/USD acting as a leading indicator for stocks this year. The lead time has been not quite 2 weeks.
I can’t think of a single reason why this should work. But it has, 5 out of 7 times over this year.
For moron the markets, see:
- Gold Got There Fast But Race is Over December 6, 2023
- Swing Trade Screen Picks – November Was a Good Month, List Still Mostly LongDecember 5, 2023
- Tax Revenues and Liquidity are Crashing December 4, 2023
- Christmas Goose Temperature Nears Required Doneness December 4, 2023
- Swing Trade Screen Picks – Read My Lips, No New Longs. But a Couple Shorts November 28, 2023
- Gold Sets Up Potential High Base BreakoutNovember 24, 2023
- This Chart Tells Us Exactly When the Bull Market Will End November 26, 2023
- A Rally Can’t Live on Hope Alone November 20, 2023
- Fuggedaboutit! Treasury Supply Ain’t Going Away November 5, 2023
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