Here’s an even better real time barometer of housing deflation.
Yesterday, they said inflation was 5% or something. Couple things wrong with that. Inflation isn’t 5%. And what they reported was CPI, not inflation. CPI does not measure inflation. It measures “consumer prices.” Inflation is defined as a rise in the g…
The bull market peaked at about 4800 in January 2022. The bear market bottomed at about 3500 in October. Half the distance is 4150. And now that the good “news” on “inflation” is out, the ES 24 hour S&P fugutures are driving toward, you guessed it,…
If you ask me, the market is getting weaker. Of course, I’m only talking about the hourly chart relative to time frames of a few days. I confine my work on the bigger picture to the Technical Trader reports. A kind individual took advantage of the risk…
Welcome back from the long weekend to all stock market religionists. In fact, the weekend is getting longer here in Europe. It’s the sacred day of Easter Monday. As in the US, the extra day on holiday weekends is for shopping. But just not for stocks. …
Really. There’s nothing to add.
Well, maybe the fact that the US Treasury is pumping $55 billion in cash into the accounts of various dealers, investors, and others in the week of April 4-11, with more to come throughout April. Maybe that matters…
That pullback was probably just the 5 day cycle down phase, with the cycle low at yesterday’s low, tested this morning. The ES, 24 hour S&P futures, only need to be above 4105 at mid day today to break the mild downtrend and indicate a new 5 day cy…
And there you have it.
Of course we’re talking about very short term targets here in this thread. Go here for the pig bicture.
And with each new day comes a new target. However, in this case, the market has been trending in such a narrow…
And then there are double tops. Some hold. Some don’t.
Today, in the very short run, the trick will be in the pullback. The market is in trending mode, so the first question will be whether there will be a pullback or not. Question 1a will be, if…
I look at this hourly chart of the ES, 24 hour S&P futures, and the uptrend looks spent. But the 5 day cycle projection has risen to 4080. And there’s clearance to 4072, the next resistance trendline. In addition, so far it is holding above the dow…