Why is this time different? I don’t know about you, but to me, this looks like every other short term bottom we’ve had for the past dozen years. I guess it could be different, and we could know this morning.
When all feels hopeless is usually when a bottom arrives. Right now feels semi hopeless. Maybe not a good thing.
Don’t ask.
We have a rebound. We know where the low is. By connecting lows and drawing a parallel line, we see a channel. So I named it. The Houston We Have a Problem Ship Channel. Our stock market space capsule was out there on its way to the mo…
Including 5 holdovers from last week, there are now 13 open picks on the list, all longs.
It ain’t exactly clear, but we have some parameters to watch this morning, that should tell us. Right now at 7:15 AM in New York, the ES is hanging from the lowest downtrending sport line. If they don’t climb back above 4375 in the next two hours, then…
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.
I was wrong about Sell Rosh Hashana, Buy Yom Kippur. I thought it wouldn’t work this year. I was wrong. When it comes to Wall Street religion, and my analytical opinion, religion wins. It’s not about logic. It’s not about facts. It’s religion! For the …
Even on the intraday charts. The ES futures rallied back to the 10 day trendline. They tagged it nicely and stopped dead. Now, at 5:20 AM NY time, they’re showing signs of rolling over again. This is after also hitting a 5 day cycle projection of 4485….
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.
OK. I cheated. That’s counting the weekend. Was there an up day yesterday. Sure can’t tell that from the hourly chart. And as of 5:45 AM in New York, the price of the ES, S&P futures, has reached a critical juncture.
That juncture is the pric…