Yesterday, May 9, 2022, a day that will live in infamy, the stock market broke down from a major top that has been 10 months in the making.
This will get everyone beared up for the longer term, as it should. However, we here at the Stool foc…
Thanks to an appointment I have with the Government of France on my schedule for today, I will push back posting of the Gold Trader…
Chart traders like round numbers, and they’ll set their algos accordingly. Shorts will set orders to cover at ES 4000, and bulls would like to buy there. So look for 4001 on the ES 24 hour S&P futures, and around that number on the cash. 😉
In …
There were more buys than sells in last week’s daily screens. That may be because there so many charts that had triggered sell signals in…
This market is in the process of completing a huge top. Bear markets that are preceded by huge top patterns tend to last at least…
The 24 hour ES S&P fugutures ended the first half hour of trading in New York on Monday at 4144. As of nearing 5:00 AM New York time on Friday, they were trading at 4144. The roller coaster had arrived back at the starting platform. As of the 2 PM…
This is the most important chart in the world because it shows you exactly what’s happening to the bond inventories of the Primary Dealers, the…
The hourly ES S&P500 24 hour futures chart failed to hit the 5 day cycle projection of 4325 late yesterday. It also failed to break through the top of what would be an impressive base for a move higher. That level is 4310. The pullback since the hi…
Federal tax collections were once again extremely strong in April, including withholding taxes, and individual non-withheld income taxes in particular. In fact there were strong…
The market has broken the latest iteration of its downtrend by moving sideways. Nothing has happened yet, but obviously, something will happen after 2 PM ET today. That’s when the Fed will announce a 50 bp increase in the Fed Funds target and the begin…
