The ES fucutures edged through the top of the 5 day downtrend channel at around 2 AM this morning New York Time, but they didn’t get far. They ran into resistance at the 38.2 fiber nacho line of the previous decline. As of 4:45 AM ET, the futures are b…
The market is rebounding today, with a big jump off the floor, after the bears’ in and out rim shot yesterday. They had a shot to win at the buzzer, but couldn’t sink it. Bulls got the rebound and are running the floor this morning.
If you’re int…
When all feels hopeless is usually when a bottom arrives. Right now feels semi hopeless. Maybe not a good thing.
And so are my charts. Investing.com is offline in a web browser, although I can still get it on my phone. So I’ll grab a screenshot from that. From my eyeball, it looks like a 5 day cycle projection of 4400 has been hit.
As soon as the charts are…
Including 5 holdovers from last week, there are now 13 open picks on the list, all longs.
The ES fucutures made a new high for the current 5 day rally over night, but it has since pulled back. The hourly oscillators have made nice negative divergences. Not that there’s anything wrong with that. Usually its just the market jerking off the be…
From a time perspective, the 10-12 month cycle ideally should be in a top phase. But it surpassed its last cycle projection of 4440 so it is probably in trending mode. Both the 6 month cycle and the 13 week cycles appear to be trending.
The market peaked yesterday afternoon around 2 PM at 4458 on the ES S&P futures. In the short short run, it was a higher high. But in the longer short run, since the September 6 high, it was a lower high.
So is the short term trend bullish or…
Janet Yellen has now confirmed that the Treasury will run out of money in October, as we already knew from our tracking of the data. Congress will be forced to raise the debt ceiling. Treasury supply will mushroom at the same time as the Fed begins to cut its market support operations. The RRP slush fund will affect the timing of the coming disaster. But we know its coming and we have a good idea of when.
Meanwhile the BLS has fomented a completely false picture of inflation. I explain that in this report. It’s blatant.
After watching and reacting to yesterday’s Paramount Cavalcade of Lies Performance in real time, what else can I say?