Speaks for itself. 5 day cycle projection is 3365. The conventional measured move target of the inverse head and shoulders breakout is 3425-30
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Can the U.S. actually sustain any semblance of or pretence at having a functioning healthcare system?
Two types of technological frontier shifts
Or is it?
Click to engorge.
The hourly oscillators certainly suggest so. It’s a quite bullish pattern. To confirm, the ES fucutures need to clear 3335. That would break the last peak, and the downtrend channel.
The conventional me…
We’ve had two working theses over the past few months. One is that the Fed is no longer pumping enough cash into dealer accounts to keep an endless bull trend going. Instead, at best, there’s only enough for rotation between stocks and bonds.
The second thesis was that because dealers are so leveraged, any fall in bond prices, reflected in an increase in bond yields, would mean big trouble for the markets.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Wake up, America, and see the Fed for what it really is: a totalitarian tool of kleptocracy.
The bears took control last week, crushing all the uptrend lines I had drawn on this chart. Now we have a well-defined downtrend. The market has also edged below several old long term and intermediate trendline extensions. If these aren’t immediately recrossed, the downside becomes wide open.
Sales of the U.S. Mint gold coins have moderated off their pandemic highs, but remain elevated by historical standards