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Look Out! Intraday Charts Are On the Brink – Friday, February 7, 2020

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Look Out! Intraday Charts Are On the Brink – Stock Market Trading Setup for Friday, February 7, 2020

by Lee Adler •  • 0 Comments

S&P 500 Chart

The Hurst 5 day cycle projection was at 3375 at the close in New York yesterday. We got a breakout above the old high, and held. That narrow holding action continued through trading hours in Asia, and so far here in Europe this morning. But it is very much at an inflection point here at 11:30 AM (5:30 AM in…

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Hey look, a report on a benchmark revision and people are actually paying attention. My stars,where is the fainting couch.

 

The Labor Department’s closely watched monthly employment report on Friday, however, showed the economy created 514,000 fewer jobs between April 2018 and March 2019 than originally estimated. The biggest downgrade to payrolls over a 12-month period since 2009 suggests job growth could significantly slow down this year.

https://www.reuters.com/article/us-usa-economy/mild-weather-boosts-us-job-growth-but-benchmark-revisions-show-ebbing-momentum-idUSKBN2010G3

 

 

 

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3 day cycle projection is only 3333. Already done. 

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Did anyone else catch that the Fed last week invited  all banks to the Discount Widow?  Come on down, nothing to be ashamed of.  Hell, it's their patriotic duty.

I think the chances the dealers won't grab up all the Treasury paper hand over fist is almost zero.  

Make America Inflate Again

If they don't something is afoot.

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