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DrStool

Kate Smith Sings From Quarantine 3/11/20

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This is definitely a bottoming pattern. I'd be more surprised now by a breakdown than an upside move to the next resistance level. 

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If they lose this right here. It's over. Fat lady time. 

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2720-2740 is a key support line if this is quick, but still, correction.

spx.PNG

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The yield on the 10 year just doubled in 2 days. 

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6 minutes ago, DrStool said:

The yield on the 10 year just doubled in 2 days. 

Is that a lot?

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May I recommend a quick dive to 2640 and test of 200 SMA? or 2670, 200 EMA on weekly SPX? That would be nice.

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17 minutes ago, DrStool said:

The yield on the 10 year just doubled in 2 days. 

Somebody or several somebodies are liquidating?  

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9 minutes ago, Jorma said:

Somebody or several somebodies are liquidating?  

I said in the last Liquidity Trader update that if it was correct that mortgage convexity hedging was the proximate cause of the yield crash, that it would be unwound just as quickly or more quickly once the market turned even a little. 

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5 minutes ago, PullMyFinger said:

How about 2734 if they get there today? Hit it on Monday and Tuesday. Do triple bottoms ever hold?

299731769_ScreenShot2020-03-11at10_58_34AM.thumb.png.2e84bcf03980b2f4df24e168c23d8cff.png

LeeWhee used to say.....the more times they test a level the weaker it gets.

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We were unable to return you to freestockcharts.com.

 
 

Internet Explorer has stopped trying to restore this website. It appears that the website continues to have a problem.

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10 minutes ago, SiP said:

May I recommend a quick dive to 2640 and test of 200 SMA? or 2670, 200 EMA on weekly SPX? That would be nice.

Could maybe see that happening. But touches of the weekly 200 EMA (blue line) are pretty rare, closes below even more so. Three touches since 2016, with most recent in late December 2018. And we know what happened after that. I think last close below weekly 200 EMA was some time in 2011?  

1435985663_ScreenShot2020-03-11at11_08_02AM.thumb.png.3b71f0890a5e5f419085249dd118da75.png

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