Bulls won yesterday’s screen game by 16 to 5. 21 total signals is an extremely low number. That’s because there have been so many buy signals in the past week or so that there are few left to trigger. By the same token, there’s no new wave of sell signals. In fact 4 of the 5 sell signals from yesterday were pharma stocks. The rest of the market essentially zippo. So were still in the residual momentum stage of the 153 to 6 bull stampede on May 14.
That suggested a new bull swing phase.
The ES S&P fucutures have been attacking resistance at 4210 throughout the night and into mid day here in Europe, early AM in the US. They look poised for a breakout. That would make the next target the rising channel line at …
What can I say. I like sports analohgeeze.
The obvious initial target of this premarket move in the ES fucutures is 4185. If they clear that, abandon hope, all ye bears who enter here (literary reeferants). Such a breakout would have a base pattern measured move implication of 4300. But first, the 5 day cycle projection looks 4200ish.
On tother hand,
Looking at cycle projections a bit shorter today, the 6 month cycle projection comes to about 36,000. That’s done. Yesterday, I showed that the…
Bulls won yesterday’s screen game by 59 to 6. That includes 4 sell signals on inverse ETFs counted as bullish. That’s a huge margin, second recently only to the 153 to 6 bull stampede last Friday, which suggested a new bull swing phase.
Hey! I don’t manipulate or argue with the numbers. They are what they are. Disbelieve them at your own risk.
5 day cycle indicators have gone to the sell side here in the wee hours in New Yak, but the 5 day cycle projection still points to 4195. That’s a little lower than yesterday’s late projection, but still well above the highs of this rebound. I wouldn’t …
Zero Hedge, in its inimitable, breathless, and incomprehensible fashion referred to a looming crisis in the Fed’s Reverse Repo program.
This is an important issue, but there’s a lot of confusion around it, so I want to try to explain exactly what’s going on and why it’s not a crisis now, but is a mirror on a process that will lead to one. We know exactly why, and we know when.
Bears won yesterday’s screen game by 29 to 21. That’s not a lot, especially considering that 6 of the sell signals were fixed income funds. This compares with Tuesday’s 32 to 15 bull win. And we’re still looking back at that 153 to 6 bull stampede last Friday, which suggested a new bull swing phase. And the 5 day numbers keep getting more and more bullish.
Originally posted at Capitalstool. Well, they broke the BTC 9 month cycle projection with a few thousand to spare yesterday. So, let’s see how it…
“Frustrating” is a word that doesn’t do this market justice. Who’s happy with this action? Day traders! That’s who! The intraday patterns have been remarkably orderly.
For the rest of us, not so much. For we who are looking for swing trades of a c…