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Another BTFD Moment 9/4/20

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44 minutes ago, DrStool said:

If this break sticks, I'll be shocked. I did not see sufficient technical warning for a major reversal. 

This is the sick humor of the market......Can not even let a bear enjoy the moment.......

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While I think that yesterday was a warning shot across the bow, I'm voting twice in favor of it being yet another BTFD moment. I'll take a deeper look at the big picture in this weekend's Technical Tr

sacrificies have to be made...

15 minutes ago, potatohead said:

This is the sick humor of the market......Can not even let a bear enjoy the moment.......

Most believe that Fed is there to pump the market up. Most have it wrong, fully loaded if the market keep selling off. Which means there is no cash available to buy the dip.

 

Charts looking better each day.

Another March type selloff or worse?

 

market top August.PNG

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2 hours ago, jp6 said:

Most believe that Fed is there to pump the market up. Most have it wrong, fully loaded if the market keep selling off. Which means there is no cash available to buy the dip.

 

Charts looking better each day.

Another March type selloff or worse?

 

market top August.PNG

See, that's wrong because the Fed is pumping $200 billion a month into the markets. So there's always fresh cash. That's a source. The US Treasury is a use. And it's using a lot, but the facts show that the Fed has been absorbing funding most of that, and it has been enough to leave some extra for the dealers and specs to do their thing.

That's not to say the market can't break. Dealers and traders decide what to do with that cash every moment, and one day they can decide to use it to pay off debt and never look back. When that day comes, it's over. 

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I've gotten a respite in the EUR/USD. Not much, but it's better than the direction it had been going. I experienced 12% inflation since March. 

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7 minutes ago, DrStool said:

See, that's wrong because the Fed is pumping $200 billion a month into the markets. So there's always fresh cash. That's a source. The US Treasury is a use. And it's using a lot, but the facts show that the Fed has been absorbing funding most of that, and it has been enough to leave some extra for the dealers and specs to do their thing.

That's not to say the market can't break. Dealers and traders decide what to do with that cash every moment, and one day they can decide to use it to pay off debt and never look back. When that day comes, it's over. 

With basically zero interest WORLDWIDE they will bot pay back debt. There is no place to hide. There is no real carry trade like we had in decades before. Every HNWI wealth manager must be in stocks nowadays and the stock exposure has to be much larger then it used to be decades ago.

Bears dream about a 2000 to 2003 redux. That will not happen. Not in the near future.

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Trust me when I say in all seriosity that if this thing closes at or above 3390 on the ES, it is bullish. Very bullish.  Even 3365-75 wouuld be. 3400+ and they'll run this thing to the moon. 

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