Here we go again. Groundhog Day. The end of history. Over and over again they keep saying it’s the end. But I say they’re wrong. We’re just at the dawn of correction. For every season, there’s a reason. Blah blah.
Ah, the caca-phony of Wall Stree…
This market reminds me of Never Nowhere All At Once. Did you see that movie?
The pattern on the hourly chart of the ES, 24 hour S&P futures looks like it could be a top, but then we see that pattern of higher lows which makes me think that it…
Yes, the ES 24 hour S&P futures have broken out here in the pre market. But the conventional measured move implication is only 4590, because the base is so shallow. That’s also the area of a couple of trend resistance lines in the first couple hou…
That’s the headline on the Technical Trader chart picks update that I will post shortly. Meanwhile, the hourly chart of the ES 24 hour S&P futures is flirting with breaking spport at 4539. If successful, the bears will have a toe hold for a big mov…
The rally stalled last week. Not coincidentally, it did so when it hit an area of major resistance from a previous top. I have shown that area with a blue box on the hourly chart of the ES, 24 hour S&P futures.
2-3 and 5 day cycle lows are du…
Happy Turkey Day to all my fellow Merkans.
Tomorrow is just another day in la France but I will enjoy it vicariously with you as you celebrate with your families.
Normally Wall Street pre-celebrates, and it’s beginning to look that way on t…
Clearing resistance is hard. The rally has crossed a range, parts of which the market has repeatedly traded through over the past 7 months. That tends to clear the range of both bids and offers, leaving a thin market that can be traversed easily.
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The market sphincter just keeps getting tighter and tighter. The question isn’t just when the market will squeeze through, but exactly what will squirt out, and where. We await with bated breadth.
That’s certainly possible. But I suspect that the central banks would go all out to preserve enough inflation to inflate the debt away in the context of our remaining lifetimes. How successful they would be is another question. I don’t speculate about …
Liquidity is bullish. Lack of liquidity is bearish. In the last 100 years, deflation has only occurred when debt collapsed, i.e. extreme lack of liquidity.
“Valuation” is a sentiment indicator. Sentiment gets more and more bullish when liquidity …