However I note some negative divergences. Resistance 3382 and 3390-95.
Sky’s the limit if they clear.
Support at 3365. Bears need to break that, or bulls stay in control.
No 5 day cycle projection yet. 2-3 day cycle proje…
Overseas investors apparently were not impressed. Although here at 4:20 AM NY time, they’ve cut the loss in the fucutures in half.
Again, interesting perspective from the 2 hour bars. They cleared the big downtrend channel twice, early and late. …
Straight from the bowels of the NY Fed, in the name of Jaysus, Praise the Load!
The overnight pullback left us on the brink.
The setup is propitious for a short term low risk entry. The setup is propitious for a short term low risk entry. There are a…
An up day on Monday would confirm that the short term downtrend is broken. This report gives you the key support and resistance levels, and…
At least on Monday morning.
Let’s start with the 30 minute bars, then zoom out.
The last move up overnight as of 3:30 AM in NY looks tired and toppy. But with a 2-3 day cycle projection of 3335, there’s some prospect of a second wind.
…
Straight from the bowels of the NY Fed.
We have known for a couple of months that there would be a mountain of Treasury supply hitting the market at the end of September. We also knew that Fed QE would be far from adequate to absorb this supply. So I have expected something bearish for stocks at the end of September. This could spill over into the first week of October.
But then things get hairy for bears, with potentially happy days for bulls. Unfortunately, we have a little problem this week. There’s no visibility. We don’t know what they have planned for the next couple weeks. That’s different from usual, where we can usually see ahead for a week or two because we know the Fed’s QE schedule, and also pretty much know how much Treasury supply to expect.
Now, thanks to the exigencies of the past pandemiconomic US Treasury fund raising back in March and April, we don’t have that luxury on Treasury supply, which forces us to surmise some things.
Here they are.
Crossing Patterns Confuse the Defense 9/25/20, was my original heading on the thread at the Stool Pigeons Wire.
Well, at least that was the case a couple of hours ago, but no longer.