DrStool Posted July 17, 2020 Report Share Posted July 17, 2020 Yes, it looks bullish again. Although last night toward the close in New York when it looked like it would launch it stalled, and it's still in that same range. So the fuel doesn't seem to be there for follow through. Let's see what happens this morning. A failure to get through 3212 on the ES would give the bears the ball. For now, the indicators say a move up is likely with targets of 3220-3230. Not a big deal. Link to comment Share on other sites More sharing options...
DrStool Posted July 17, 2020 Author Report Share Posted July 17, 2020 The daily chart gives some perspective on just how significant the current level is. A move through 3233 would trigger a launch. The target could be 3260 or 3285 by the end of the day. And that would only be the beginning. Longer view here. https://liquiditytrader.com/index.php/2020/07/13/jack-be-nimble-jill-be-quick-this-markets-not-a-monolith/ Link to comment Share on other sites More sharing options...
DrStool Posted July 17, 2020 Author Report Share Posted July 17, 2020 Liftoff. Link to comment Share on other sites More sharing options...
jp6 Posted July 17, 2020 Report Share Posted July 17, 2020 14 minutes ago, DrStool said: Liftoff. Scam week To where? Link to comment Share on other sites More sharing options...
DrStool Posted July 17, 2020 Author Report Share Posted July 17, 2020 The recurrant theme is lack of follow through. But what does it mean? Are they out of gas, or are the dealers just holding back while accumulating inventory. Hmmmm????? Link to comment Share on other sites More sharing options...
jp6 Posted July 17, 2020 Report Share Posted July 17, 2020 19 minutes ago, DrStool said: The recurrant theme is lack of follow through. But what does it mean? Are they out of gas, or are the dealers just holding back while accumulating inventory. Hmmmm????? Everything says SPX should be going up and taking out 3260. Why is it not going up? It's one big Boring Market. Link to comment Share on other sites More sharing options...
DrStool Posted July 17, 2020 Author Report Share Posted July 17, 2020 There it is. Link to comment Share on other sites More sharing options...
DrStool Posted July 17, 2020 Author Report Share Posted July 17, 2020 Indicators are bullish and portend a breakout through channel resistance at 3215. 2-3 day cycle projection 3225-30. Link to comment Share on other sites More sharing options...
potatohead Posted July 17, 2020 Report Share Posted July 17, 2020 The Fed is setting the stage for a major policy change QE Infinity? Link to comment Share on other sites More sharing options...
jp6 Posted July 17, 2020 Report Share Posted July 17, 2020 7 minutes ago, potatohead said: The Fed is setting the stage for a major policy change QE Infinity? They have to Buy Bond as Gombit is running a huge deficit spending with never ending new Bond issues. If I was a Bond Holder would sell it and Buy Gold which is also a reserve assets for other CB. Link to comment Share on other sites More sharing options...
MisFit Kid Posted July 17, 2020 Report Share Posted July 17, 2020 24 minutes ago, potatohead said: The Fed is setting the stage for a major policy change QE Infinity? At this point what the Frag is "Tight Policy" ??? They are trying to get everyone to belive NIRP/ZIRP/infinite QE while Buying stocks/bonds/any any, is normal. They are/will slowly boil that frog in water, and call the water too cold, always needing more heat (countterfeit $$$). They are Criminals and worse...... >: Inflation targeting is nothing but a convenient systemic scam, the MSM et al, should know that by now. Link to comment Share on other sites More sharing options...
potatohead Posted July 17, 2020 Report Share Posted July 17, 2020 7 minutes ago, MisFit Kid said: At this point what the Frag is "Tight Policy" ??? They are trying to get everyone to belive NIRP/ZIRP/infinite QE while Buying stocks/bonds/any any, is normal. They are/will slowly boil that frog in water, and call the water too cold, always needing more heat (countterfeit $$$). They are Criminals and worse...... >: Inflation targeting is nothing but a convenient systemic scam, the MSM et al, should know that by now. Been saying for 15 years that physical confiscation of the metals will never happen. They will simply do it by taxation via inflation. I agree, this is the frog in the boiling pot of water SINdrome. Link to comment Share on other sites More sharing options...
jp6 Posted July 17, 2020 Report Share Posted July 17, 2020 QE Infinity Just like before In the United States in 1932 there was the presidential election that led to the election of Franklin D. Roosevelt, who many considered a populist of the left. Promptly after his inauguration, in March/April 1933, he defaulted on the promise to convert paper dollars into gold, provided money to all banks so depositors at those banks could get their money, ordered all gold in denominations of more than $100 to be turned in for paper money at a rate of $20.67 per ounce, and devalued the dollar in relation to other currencies. There were also big fiscal spending programs that led to large budget deficits and large debts that the Federal Reserve bought with money that it printed. https://www.linkedin.com/pulse/chapter-4-big-cycle-united-states-dollar-part-1-ray-dalio/ Link to comment Share on other sites More sharing options...
potatohead Posted July 17, 2020 Report Share Posted July 17, 2020 2 minutes ago, jp6 said: QE Infinity Just like before In the United States in 1932 there was the presidential election that led to the election of Franklin D. Roosevelt, who many considered a populist of the left. Promptly after his inauguration, in March/April 1933, he defaulted on the promise to convert paper dollars into gold, provided money to all banks so depositors at those banks could get their money, ordered all gold in denominations of more than $100 to be turned in for paper money at a rate of $20.67 per ounce, and devalued the dollar in relation to other currencies. There were also big fiscal spending programs that led to large budget deficits and large debts that the Federal Reserve bought with money that it printed. https://www.linkedin.com/pulse/chapter-4-big-cycle-united-states-dollar-part-1-ray-dalio/ This time is no different. Fiat currencies all die at some point. The dollar milkshake theory floating around Fintweet, is another example of, "it is different this time". The eventual meltup will be in hard assets since all paper currencies are competitively devaluing against each other. The Central Banks or Wall Street have done a masterful job of extending this game. Link to comment Share on other sites More sharing options...
DrStool Posted July 17, 2020 Author Report Share Posted July 17, 2020 I took a break and we had an air pocket, then a launch. Ugly. Link to comment Share on other sites More sharing options...
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