From this perspective, I lean more to this being a bullish consolidation than a top, but I guess we'll know better if and when they try to get back to 3660.
A breakout above 3638 would measure to 3660. If they don't clear 3638, next week the bears should come out of the woods where they've been shitting.
I've often wondered why people ask if a bear shits in the woods.
What a stupid question.
Of course not.
Who lives in the woods? Most of us don't even live near the woods.
It's normally only a problem when you're on the highway.
attention all telecom investors - the Resistance is suing the FCC. this is truly monumental
We will soon have our day in court!
The U.S. Court of Appeals for the District of Columbia Circuit has set oral arguments for January 25, 2021, right after President-elect Joe Biden's inauguration. This is the time we will present our case, EHT et al v. FCC, filed with Children's Defense Fund and
I had an error in my trading list in Technical Trader. Wrong price on the first stock on the list. Also wrong stop. I had both way above where the stock was. It was actually at 102, not 118, and the stop was 96, not 106. Hopefully that error was obvious to anyone who saw it. The trade is a long, and doing fine.
Because all of the money is being made overnight, I decided to start leaving my best looking stocks on the daily charts near the end of day in place. Just one or two.
Yesterday I had one long and one short.
I had a massive loss in the short when NY opened, and an equal sized gain in the long. After the first half hour I cut my gain and let my loss run, thinking, OK, this has to pull back during the day.
It didn't. fornicate me.
I spent the entire day trading furiously to cancel out that loss which I finally took in mid afternoon after it became clear that this bastard w
As I go through my daily stock screen ritual, looking for trading candidates, I'm struck at just how bullish so many household names look. Absolute dogshit that has miraculously turned around from these saucer base patterns.
Admittedly, there are only several dozen of them, but they are big caps, representative of the thoughts and prayers of millions of investors.
Even stuff that looked like a good potential short a few days ago has whipsawed and turned bullish. In many cases they had risen to their 200 day moving averages, and had triggered the first of usually 3 sell signals befo
As for the current state of the ES fucutures at 4 AM in NY, we seem to have reached yet another infartion point.
Trend support is indicated here at about 3635. If it holds, the thrust seems capable of launching the ES to 3660, or even 3675 by the end of the NY market day this afternoon.
If this trend support line breaks here, then we look for the next trend support around 3625 or support level of 3620. Not a big deal.
I think that up is more likely. The trend is your friend and all.
If they're going to break it, they'll have to show me they can first. This is not an en
Other than anything I say, the fiscal games that the Trump Regime is playing on its way out. As Jorma axed laxt nocht.
This "unspent money," is absolutely irrelevant.
WTF is the big deal? The Fed can create as much money as it wants, when it wants. Witness the $190 billion per month it is currently imaginining into existence by crediting Primary Dealer trading accounts so that they can buy more paper at a discount and sell it at a premium at no cost to themselves. They merely act as strawmen for the real buyer- Load Jaysus, while the Load, praised be his glorious name fo
Munchin says he is putting the unspent CARES Act money back in the Treasury General Account at the end of the year.. Those are the exact words I read. But where are they now? Do you know Lee? Do agencies have their own segregated accounts?
So is the appx. $500 billion 'returned' going to put the Treasury General Account at $2TN? Why and WTF for? Also, why borrow another $150bn by Dec.1? Inertia?
Anyone who has traded this market successfully since Pfizer Day is a genius.
I am not a genius.
The 5 day cycle projection on the ES is currently pointed at 3603, done, but this could ratchet higher. A couple of trend channel resistance lines are vectoring toward 3625 at around 1 PM New York time. That's a reasonably likely target if the current mini pullback here at 3 AM ET, holds in the 3600 area.
If that doesn't hold, the key support line remains 3586, around which all life on earth, and indeed the future of the universe itself, revolves and depends.