Today. And tomorrow. Which is when we’ll get the noncement and the dog and pony show. The market will react, and in the days after, as always, we’ll get the Fed Resubstantiation Rally.
For now, it looks set up to go… drumroll please…
T…
I will start with the 2 hour bars of the ES 24 hour S&P futures, just to give you some perspective of what a beautiful bottom we’ve just come through. It has a conventional measured move target of 5250.
But wait, is that a little rounded top …
That was cute. All of the market’s gains came in a nanosecond after the closing bell last night. But they were prepping for it. The dealers had a heads up and shook the trees early in the day to gather the low hanging fruit to add to their inventories….
But will it stay that way. The uptrend is intact on the ES 24 hour S&P futures, but so is a little downtrend. Today, they’ll battle it out.
The uptrend line to watch rises from 5037 to 5048 from 5 AM NY time to the NY close at 4 PM. If that h…
The 5 day cycle projection on the ES 24 hour S&P futures is now around 5150. It looks like a better than even bet. At 5083, it’s already more than 5050, right?
The conventional measured move target of this rounded bottom base breakout is arou…
The ES 24 hour S&P futures broke out from a little bottom early yesterday, then pulled back to the scene of the crime late. At 5:40 AM New York Time, they were edging back upward to try again. It has the look of a mid stage rounded bottom. But of …
A big overnight selloff has been reversed in the early morning hours, half way through the European trading day, and 2 hours before NY opens. The ES 24 hour S&P futures have returned from a knife plunge, back to unchanged since the NY close. The se…
I’m not sure I understand everything Jimbo says here, but it’s definitely worth thinking about.
But it looks like it’s time for a little rally in Treasuries as T-bill paydowns temporarily flood investor accounts with excess cash.
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Yesterday, no one correctly identified our mystery guest, so we will have new contestants attempt it today, on What’s My Line, with John Daly, Dorothy Kilgallen (corrected, not kilogallon), Bennet Cerf, Arlene Francis, and Steve Allen.
New …
Another dawn. But is it another false dawn, this market rally morning?
The ES 24 hour S&P futures have rebounded from the bottom of a downtrend channel. It didn’t get as low as very short term cycle projections suggested that it would. Hourly…