Rangebound markets make predicting difficult, especially about the future. However, we look to things like time, the odds favor the upside for the next 2 days or so. The hourly cycle indicators suggest that a 5 day cycle low has formed, and that the ne…
This is interesting. $65 billion in paydowns with more likely to be announced next week. But look at that festering boil at the end of the month. Just waiting to be popped. How the market will respond depends on how much more cash is coming from T-bill…
This will be quick. I’ll be out until this evening here and this afternoon for you in North America.
5 day cycle projection says 5510.
Pausing this morning first.
Spport 5465-70 this morning. They’d need to break that to signal even th…
The T-bill paydown announcements are not only coming fast and furious, they’re getting bigger. When it comes to June estimated tax receipts, the US Treasury must like the way they look.
Once they put that $68 billion coupon issue to bed on Monday…
I recognized at the end of May that there would probably be no June swoon. There are still more than two weeks left in the month, but so far, so good. The 5 hour bar chart of the ES shows an orderly bull move that still appears to have some juice.
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The market relentlessly pounds away at etching new highs in the stone overhead. Meanwhile the FOMCircus has come to town. We await ringmaster’s Jay’s Wall Street media freak show main event at 2:30 PM. What a bunch of clowns and ass kissing turds. I…
It’s a yawn not only because it’s boring, but because it’s another bullish setup. Bears need ES below 5339 at the NY open and/or below 5325 to have any semblance of any shot of any chance, of getting even a short term reversal out of this deadly dull m…
The market successfully lifted off the launchpad yesterday and has established orbit. The 5350 level now looms large on the ES. It was the May 23 high, and is also a trend spport convergence level this morning. If it holds above that, the sky is the fl…
The ES was making a triangle yesterday. It broke out, but then stalled. Now the pattern has morphed into a launchpad with a 5 day cycle projection of 5325. Resistance is indicated 5320-25, and a little later in the afternoon around 5340. Clearing 530…
Is making me wait. This market can’t make up its mind. It’s too early for a 3 or 5 day cycle low. More work to be done. Likely heading for the Dick Trickle Memorial Point at 5274 this evening. Levels to watch in the meantime, 5248 for spport or breakdo…
