Here’s that beautiful 2 hour bar chart again. It sure looks like it’s trying to bottom here, if you look at where it is, and the behavior of the lower indicators. In addition, the 5 day cycle projection of 3218 was hit. But I would have expected more …
Broadcast straight from the bowels of the US Treasury. What’s that smell?
The uptrend from yesterday’s low looks solid, with a 5 day cycle projection of 3330-40. But first, trend resistance is suggested at 3316-17, and 3325-30. But even reaching 3340 might not give the bulls a victory in the big picture.
As broadcast straight from the bowels of 222 Liberty Street, NY, the home of the NY Fed
It took all day, but they finally mounted a short covering stampede in yesterday’s last hour. The result left the market shy of repairing the breakdown. The indicators are ambiguous this morning. They’re not signaling yet whether there’s a second roun…
From the bowels of the NY Fed to the coffers of the Primary Dealers, here’s the latest emanation. I take the bull by the horns and decode the emanations for you.
The ES fuctures are up 22 points from their overnight low here at 5:25 AM ET, but that’s still down 46 from Friday’s close. It ran into multiple support lines and levels and blew away a 5 day cycle projection of 3260 at the low of 3248. The hourly indi…
From the bowels of the NY Fed
Call me a cranky old man. OK. So that’s been true forever. But I’m not convinced yet that this is a bearish setup. At least in the very short run.
That said, if they can’t poke through 3365 in the early going in NY, I’m converting back to my nat…
Direct from the bowels of the NY Fed
