The bulls tried again to punch it through the long term trendline from the January 2022 market high, and failed. That does not mean that they are done trying. Today is day 4 of the usual 5 day trading cycle. If they continue to slop around near the tre…
A long night awaits for the bears.
Depending on the type of chart and time frame, on some, the downtrend from the early January 2022 high is broken. On the hourly chart of the ES, 24 hour S&P fucutures, they broke it during the day yesterday …
One two three two three says it all.
Today’s the day of the dance.
Lately we’ve been on a dancefloor of 3900-4000. And this morning, we’re stuck in the middle with you.
Hardly a sign of movement.
Still, a 5 day cycle projection …
It’s dreadful, but the hourly oscillators on the ES 24 hour S&P futures got buried at the same levels where the market has subsequently made short term lows within 2-4 days, not too much lower than the first low.
Take that for what it’s worth…
Which continues until there’s a trouble climax. Are we there yet? Not yesterday. Today, the 5 day cycle projection on the hourly ES S&P 500 fuguetures has dropped to 3885. There are a couple of sport levels in that vicinity also. That doesn’t seem …
The US Treasury will sell $191 billion net in new T-bills this week. How? They’re up against the debt ceiling. I guess they’ll pay down intragovernmental debt. But why. Why, O Load?
Does Madame Secretary want to force the crisis sooner rather t…
Whatever chance they have to abort this launch is about to get smushed, here at 7:25 AM ET. A strong finish to this hour would indicate ignition and the launch of the bull into outer space. First stop 4010. Then we’ll see. Double top anyone?
…
But why? Don’t know. Don’t care. The Wall Street Illuminati are blaming the TSLA price cuts. We knew inflation was dead back in November. By the time the Fed wakes up to outright deflation it will be too late.
So today, if that’s the Raison du J…
There’s a tiny little top pattern on the hourly chart of the ES, 24 hour S&P fugutures at 5:20 AM New York Time. But it hasn’t broken down yet, and cycle projections still point higher.
What to believe. What to believe.
Well, if the ES …
Whether this is a bear market rally or a new cyclical bull market matters not. My purpose here is not to fix the ills of central bank market rigging and excessive speculation. I’ll take whatever the market gives, and do my slanty headed best to report…