Originally posted at Capitalstool. The 40% M2 print from March 2020 onwards was a varitable tsunami of money. It pushed stocks and bonds and houses…
Originally posted at Capitalstool, May 26, 2022 Rate hikes are irrelevant. They’re the tail. Money is the dog. Wall Street perpetually doesn’t get this. The…
Originally posted May 26, 2022 at Capitalstool. The economy is in an inflationary boom. This is very bearish. Recession is bullish. The Fed has to…
Originally posted May 26, 2022 at Capitalstool. Anybody who thinks inflation is moderating, think again. PPI- Final Demand- Core Finished Consumer Goods leads. And it…
Yesterday was a good day for us, in terms of reading the stock market futures chart pattern well in the premarket, and laying out the likely direction and targets for the day. Can we do it twice in a row?
Nah, but what the hell.
Why not try …
Normally we don’t think of wedge patterns as leading to breakouts, but this one might. Here’s how it looks on the 2 hour bars of the ES 24 hour S&P fuguetures.
And zooming into our usual look at the hourly bars. It’s a messy pattern, bu…
Looking at this hourly chart of the 24 hour ES fuguetures, we see a market going nowhere fast. Over the past 2 weeks it has made a lower low, a higher high, and every trend permutation imaginable. Yech.
Today, once again, the market is making a t…
Over the past 3 days, the hourly chart of the ES, S&P 500 24 hour futures has become increasingly disjointed and incoherent. This is a symptom of the growing shortage of liquidity. It reflects the inability of dealers and other big players to maint…
The S&P hourly 24 hour ES fugutures chart seems to have set up a beautiful bullish base.
Pass or fail?
The answer is 3960.
Above that, they’ll run it back to 4000, with a measured move objective of 4050-4080.
Other than that…
The hourly ES 24 hour S&P fugutures chart made a picture perfect bottom over 5 days through yesterday, and then proceeded to rally, as we might expect. But the rally is punk. It’s stuck in the mud. It needs to clear 3950, or else consider it dead!
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