People make all kinds of statements about the market with not a shred of evidence in support of those statements, because they read it on the internets. Yes, Virginia, if you saw it in the media it must be true.
Not.
The media is…
It’s such a momentous thing that I will lead off with it today. The bellwether 10 year Treasury Yield hit 4.98 this morning and still looks poised to go much higher. There’s an intermediate cycle projection of 5.35.
I turned bearish on bonds way …
The market has flipped and flopped wildly since October 10, like a fish out of water. Which way it goes next is anybody’s guess. But it has successfully digested a deluge of Treasury supply over the past couple of days and stocks haven’t buckled. There…
A stalled, messy, rangebound market leaves a chopped up chart picture on the ES 24 hour S&P futures. But a 5 day cycle projection points to 4400. So I have both longs and shorts in my trading port today. Of course I expect to profit from neither. T…
We’re about to find out as the ES, 24 hour S&P futures come off what should be a 5 day cycle low and reach the first area of trend resistance. That’s as of 8:15 AM in New York, with resistance indicated around 4345 to 4355 coming into the New York …
Happy Friday the 13th! I am out and about in Paris this morning, so I will just start with this brief observation. The hourly chart of the ES 24-hour s&p futures looks like a top pattern. An hourly close below 4433 would negate the implications of …
The very short term trends remain bullish, but the shakeouts and individual breakdowns make it difficult for the longs to stay long. And give the bears hope. Both give the market fuel to go higher late in the day.
From the standpoint of the hourly…
The conventional measured move target on the base breakout of the ES 24 hour futures is at least 4450. However, the hourly cycle indicators are extended both on an hourly and two hour bar basis. So a pullback or consolidation is likely before the adva…
Over the past couple of weeks I have been calling the pattern forming on the chart of the S&P 500 and the ES 24 hour futures for that esteemed index, as The Big Low. First On the Lookout for Big Low, and this past weekend, The Big Low. That “Big L…
It’s a sad and terrifying day in Israel, and still in Ukraine as war rages. But as the quote of Baron Rothschild reminds us, Buy when there’s blood in the streets, even if the blood is your own. Whenever, and wherever there’s war the blood is our own, …