It’s an inverse head and shoulders with a conventional measured move target of xxxx on the ES 24 hour hourly futures chart, which mimics the cash S&P 500. But it will get there only if it clears the neckline of this pattern. That neckline is at …
The bulls continue to fight the Fed, breaking the First Rule of Law. And what happens when you fight the Fed? This. The ES 24 hour S&P futures hourly.
And this:
That’s the 20 year Treasury ETF hourly. January rally round trip….
Well, yeah-ah!
Or maybe not. The 5 day cycle projection is 4037, all but done. And we have the makings of a 5 day cycle low here in the early pre market, with hourly oscillators in a positive divergence from the ES, S&P 500 24 hour futures.
…
Look at this chart of the ES, 24 hour S&P futures. It’s garbage. Utterly useless garbage. Completely incoherent.
But it tells the story of the current market. Babbling incoherence. The ravings of madness.
I doubt that it will make sense…
Was it this? How Bears Could Take Charge This Week February 13, 2023
I honestly don’t know. I’m writing a report on who’s drawing down the Strategic Cash Reserve, and I name names.
That’s coming up within the hour.
Meanwhile, I can’t m…
Yes, and do you know why? Because the largest volume of tax refunds are sent in February. That means the the US Treasury must borrow to cover that, so supply is heavy in February. We’ve seen that in the T-bill issuance calendar for this month. And the …
I don’t know about these persistent recurring bursts of buying. But they’re here. And this morning we’ve had an upside breakout of a nice big triangle pattern on the ES, 24 hour S&P fuguetures. The 5 day cycle projection is 4170. But over the past …
They’re ba-a-a-a-a-a-ack. The bulls are still buying the dips and the 4 day cycle that we noted weeks ago continues to repeat like clockwork. The low was right on schedule on Friday. The next high is due late tonight on the hourly chart of the ES, 24 h…
Yesterday I reported on how new US Treasury debt issuance policy is crushing the stock market rally. It’s policy, and it will continue. The report delves into the mechanics of how, and why, the government can continue to issue massive amounts of debt d…
And apparently, I was the sucker, capitulating on my longs.
But alas, New York premarket trading is just getting ready to roll, and an upside breakout isn’t guaranteed, as the 24 hour ES, S&P futures, move in a narrowing triangle, liable to t…