Which, in addition to being the direction of the stock market is about where I am in charming Stavanger, Norway. Stavanger is a lovely little coastal city of about 150,000 souls in a metropolitan area of about 320,000, nestled among the fjords and moun…
I am aboard the MS Cracovia leaving port from Swinoujscie Poland, headed across the Baltic Sea to Ystad Sweden. If you’ve ever been on a cruise ship on the high seas then you know that the satellite internet sucks.
But here’s a chart from my phone…
Yep, it does appear that that reverse head and shoulders pattern on the ES, 24 hour S&P futures hourly chart has been completed… by a hair. I’m not exactly confident that this will be sustained, like any of the moves over the past two days. But i…
The proof will be in the putting. If they clear 4380 on the hourly ES S&P futures chart, then I’d say good to go.
But they seem to have shifted from a dominant 5 day cycle to 3 day dominant. If that holds, then this cycle has peaked and today…
Regardless of where it is.
I want to rehash a few points here that I made at the end of yesterday’s thread. This was in response to listening to about 10 minutes of an interview with Michael Howell. From those minutes, he at least has a grip on what liquidity is and how it works.
What do interest rates have to do with the stock market? Absolutely nothing!
‘-J. Granville
The crushing weight of record Treasury supply is finally taking its toll on the markets as we enter the last week of June. Net new issuance for the month…
The 5 day cycle may have peaked last night, soon after bottoming. This could signal a shift to short up phases and extended down phases. At the moment it’s too early to be sure. A break of yesterday’s low would confirm. If there’s no break, the next mo…
The market has been drifting lower for 3 days. The constant dripping has now reached critical trend support at 4352. Will it hold? The 5 day cycle projection is final at 4360. But if this does not hold, then we could see a drop to the next support leve…
Builders apparently put a lot of shovels in the ground last month. It’s a muddy picture, tangential, but since everyone is interested in housing, I decided to take a look, pursuant to this dicsuction that arose yesterday.
…
Well, sort of. By the time a recession is recognized, it’s bullish. Not so when they’re first starting, but nobody knows when that is until 6 months after the fact. What good is that? Betting on whether there will be a recession or not is a waste of ti…