Today’s intraday look is below. But first, in case you missed it, this is important:
For now all we can do is follow the charts. And pray for guidance. And not the kind of guidance that comes from the Fed. Because it is flying blind. And lying about it. If there’s one thing that Jerome Powell learned from the master, Bernanke, it’s…
Today is Labor Day in France, a public holiday throughout Europe. In the UK, it is a floating holiday known as “Early May Bank Holiday.” Charming. In Germany, it’s also Labor Day. In Italy it is “La Festa dei Lavatori,” of the Festival of the Public Re…
The past two days are a perfect example of free markets functioning normally.
Also, be careful what you wish for. Recessions are bullish. Because recessions are when the Fed loosens monetary policy.
Finally, as my hero Joe Granville used to…
Late yesterday, I pointed out the sport line convergence at 4050 on the ES, 24 hour S&P fuguetures. Of course it held. Now we’re back on our way up, in a new 5 day cycle up phase. As of 8 AM ET, they’ve hit resistance at 4082. If that’s cleared, ne…
Forty six thousand percent. Forty six thousand percent. That’s how much you woulda, shoulda, coulda made if only you had bought the new baking soda stock in 1980.
Who knew?
What is today’s baking soda of tomorrow? More baking soda? That’s t…
This colorful chart is mostly red, despite the green background. One decent bet would be that it the market has been in a 5 day cycle up phase since Thursday. That would be confirmed if they take out the lows in the early going today. Otherwise, we may…
And so am I. I’ll be back in a jifffy, but meanwhile, check out this chart. Speaks for itself.
Just when bears thought it couldn’t get any worse, so it has to get better, this happens. As of 6 AM ET (New Yak) the two hour bar chart of the ES, 24 hour S&P futures, features another bullish low in a consolidating uptrend that is now 2 months lo…
Now all they need to do is break it. So far, as of 5:30 AM ET, they’re not quite there. They did managed to edge below yesterdays neckline at 4124, but I’d want to see an hourly close below 4113 before getting excited about meaningful downside. As of n…
