I’m just going to crawl into my shell.
Back at Circle Back Ranch, where traders look to scalp a few points out of the ES, 24 hour S&P fugutures each day, there’s a whole lotta nuthin goin on.
The May 19-23 anal log on the chart of the ES 24 hour S&P futures is on the verge of being crushed. There may be no flush. Instead, the bubbly inflated mass of s… s… uh… s- stocks! yeah that’s it! will simply float higher. Clearing 4273 migh…
Almost no one came here yesterday. Ghost town. Crickets.
Could it beeeeeeeee-eeeee eeeee?
THE TOP? One reason to suspect that they will Make it so, is that the May 19-22 anal log is still working out. This is the hourly chart of the ES, 24 h…
It’s D-Day, one of the most important dates in world history.
The stock market is sanguine.
I’ll be back.
For moron the markets, see:
The Bulls Are Full of It June 4, 2023
Incomprehensible, That’s What You A…
I don’t completely concur with Jimbo’s idea here, but it’s an interesting way to look at it, and I absolutely agree with the conclusion.
Fact is that deposits are declining dollar for dollar with QT. Nobody is fleeing the banking syste…
Well, it’s all semantics of course. Traders can find opportunities to trade in any environment. What you call it does not matter one iota.
The only exception is tight trading ranges. They are meat grinders and the object there is too maintain cap…
Yesterday, half tongue in cheek, I headlined our thread, Sell the News. But I noted that we didn’t know what the news would be. But still…
Now we know.
And so, the debt ceiling deal is done. Which truthfully, I did not expect. Bu…
The problem is that we don’t know what the news will be. Will the House pass the debt ceiling deal, or not.
In either case should it be sold?
Maybe not. The 5 day cycle low is due today, and the projection on the ES 24 hour S&P futures …
Meanwhile, back at the day trading stuff, the hourly ES, S&P 500 futures looks poised for another surge.