DrStool Posted November 18, 2020 Report Share Posted November 18, 2020 Dare we dream? Two straight down days? Nah. Yesterday, I pointed out the importance of the 3586 level. We've got a double bottom there on the ES fucutures hourly overnight. If they clear multiple trend resistance at 3611, it will be up, up and away. On the slight chance that they break 3586, beware of a fakeout shakeout to trend support now at 3575 dropping to 3571 when NY opens. Only if that's broken is there a shot at more than your daily shake and bake sale. On the other hand, if they clear 3611, then we'd be looking for 3645 in a heartbeat, with a possible bathroom break at 3620-25. Please remember to don your mask when stopping at the rest area. Those bathrooms are full of virus. Click to engorge. Keep up with the big picture outlook, including long/short swing trade chart picks, at Liquidity Trader. 90 day risk free trial. (Sorry, no shorts this week). 🤔 Link to comment Share on other sites More sharing options...
Keep up with the big picture outlook, including long/short swing trade chart picks, at Liquidity Trader. 90 day risk free trial. (Sorry, no shorts this week). 🤔
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 30 Minute bars show the trend breakout and resistance looming at 3620. Once through that, 3645, lickety split. Indicators bullish. 2-3 day cycle projection 3633. Click to engorge. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 They pull it back to the downtrend line for the open. Interesting. Link to comment Share on other sites More sharing options...
Jorma Posted November 18, 2020 Report Share Posted November 18, 2020 Let's just hope the Fed doesn't do their QE increase before it is absolutely certain that Trump will leave the White House. I'm not strongly confident they will wait. Hopefull? Sort of but bankers and fascists tend to come together as a general rule. I had no hope our press would ask Powell over the last few months if it would be business as usual if the elections outcome was bizarre and unusual. Nobody thought to ask. Possibly the Fed itself hasn't considered it. Which is no less a comforting thought than if they have thought of it and have decided it will be gung ho no matter what. If not this year then there is always 24 or 28. The German banking system didn't skip a beat after the Enabling Act. Hell they voted for it. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 5 day cycle projection 3583. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 The Fed won't increase QE until there's a new spending bill that requires an increase in Treasury debt. At least that's how they've always done it. TBAC Magic 8 Ball Cloudy Link to comment Share on other sites More sharing options...
Jorma Posted November 18, 2020 Report Share Posted November 18, 2020 2 minutes ago, DrStool said: The Fed won't increase QE until there's a new spending bill that requires an increase in Treasury debt. At least that's how they've always done it. TBAC Magic 8 Ball Cloudy What if TNX heads towards 10 again. The talk is out there I posted an article the other day. I suppose your right. The very serious people are saying the Democrats should take a small deal now. Which would be late Dec. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 Wow. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 5 day cycle projection drops to 3572. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 2-3 day cycle projection 3570. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 Have you ever noticed how when things look the most bullish, stuff starts to break? Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 2-3 day cycle projection 3568. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 5 day cycle projection is holding around 3575. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 5 day cycle projection just dropped to 3555. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2020 Author Report Share Posted November 18, 2020 2-3 day pointing to 3560. Link to comment Share on other sites More sharing options...
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