Just a reminder that yesterday the Fed pumped $83 billion into the trading accounts of Primary Dealers. Another $40 billion is coming next week on Monday and Wednesday. Moron that here.
Apparently they committed most of that cash to buying more Tr…
The ES fucutures dipped to spport lines in the overnight session in Asia, then the Europeans got to it, and lo and behold, they’ve rallied for the past 5 hours. Resistance is indicated 4366-69. If they clear that, then 4377-78. 5 day cycle indicators …
I’m in the amazing city of Krakow, which most Americans have never heard of. It is one of the most beautiful, history laden cities I have visited in Europe. And yet, in many ways it feels very familiar. I have posted lots of photos at https://www.insta…
Not only does it describe the market, but I’m on a train from Bratislava to Krakow, with intermittent connectivity. I will be with you in spirit. 😂
It has been all downhill since I noticed the double top yesterday. Dramatic turn of events. But the ES S&P futilitures had reached their upper measured move target from the reverse head and shoulders breakout, of 4350. At that point, the trading algos all decide that they’d go no further, triggering their Sell Mortimer algos.
Now we’re at the point at 4 AM in NY that the price could drop back below the upper line of the big megaphone pattern.
I don’t know what yesterday was all about. Here at 6 AM ET, the fucutures are back to where they left off on Friday.
I guess they have down days for dramatic effect.
Did I say dramatic. They have, in essence, set up a trading range of 4310…
Welcome back! I hope you had a great holiday. I had a traditional one, walking around Ljubljana, Slovenia, taking photos. Then yesterday, I got on a bus to Bratislava, and boy is it hot here. Today they’re predicting a high of 93, tomorrow, 94, and Thu…
Last night when I closed up shop, the 5 day cycle projection on the ES fucutures was pointed to 4327. After all the action in Asia and 4 hours of EU trading we’re looking at a projection of 4320, with a high of 4318 overnight. We saw the ES also hit t…
A little later today, I’ll be off on my travels to Slovenia, Slovakia, Poland, Czechia, and Germany. I’m saying farewell to Zadar, just as yesterday it seemed to say farewell to me!
I will pack my trusty laptop snugly in its favorite backpa…
On a personal note, today is my last day in Zadar. I have such mixed emotions. I have fallen in love with this place in…