DrStool 286 Posted December 18, 2020 Report Share Posted December 18, 2020 Here's what's scary about the hourly chart of the ES- the S&P fucutures. The 5 day cycle has been in a down phase since the Wednesday-Thursday overnight session. The December 9 high is cleared, and short term resistance seems set at 3717. If they go through that, this thing could go explosively higher. If they don't, then I'd watch that rising trend support now at 3710 and 3705. Odds are that if those aren't broken, the upside breakout will come this afternoon. People get all hung up on valuations and the Fed, and the outrageousness of a completely rigged market. But the fact is that if you simply do the most basic technical analysis, i.e. support and resistance levels, and trendlines, you make money. Rule Number Two is always true. The trend is your friend. Don't fight the tape. And Rule Number One goes without saying. Don't fight the Fed. From Monday- Try Try Again, Extended Market Hits Long Term Resistance Trend Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 If you have just registered here, remember to validate via the confirmation link sent to you. If it's not in your inbox, check your spam filter. And thank you! Link to post Share on other sites
Jimbo 27 Posted December 18, 2020 Report Share Posted December 18, 2020 ANTICIPATING THE INFLATIONARY GIFT A lot of the stock market rise has been an anticipation of the "Inflationary Gift" What is the "Inflationary Gift" It's the transfer of the real value of a companies debt from lenders to shareholders via the inflationary mechanism Remember inflation is a transfer mechanism from lenders to borrowers. Its currently running at 2% per annum. About to become much higher in 2021. And the value of this gift is entirely determined by the FED. Link to post Share on other sites
Jimbo 27 Posted December 18, 2020 Report Share Posted December 18, 2020 KEEPING THE INTEREST RATE CURVE PINNED The Fed has to print an awful lot of dollars to keep interest rates pinned. This means a falling dollar Reality 101 Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 BUSTED! Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 1 hour ago, Jimbo said: KEEPING THE INTEREST RATE CURVE PINNED The Fed has to print an awful lot of dollars to keep interest rates pinned. This means a falling dollar Reality 101 Dzackly. Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 5 day cycle projection down- 3700. Done. Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 As long as the Fed prints more than BoJ and ECB, $ will fall. Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 5 day cycle projection drops, but only to 3697, already done. Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 Link to post Share on other sites
Jorma 51 Posted December 18, 2020 Report Share Posted December 18, 2020 SPX takes a 30 point hit and TNX barely budges? In other news half of all vaccine shipments to states are not going to be shipped. Huh? Don't ask me. The acting Defense Secretary ordered a halt to all transition contact by the DOD with the Biden transition. Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 One of those rare days where prices move ahead of projections. 2-3 day cycle projection now 3785 done. But the 5 day could be much lower. Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 Testing the intraday low. If they take it out, then the target would be 3665. If it holds. Then the target is da moon. Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 Breakdown. Link to post Share on other sites
DrStool 286 Posted December 18, 2020 Author Report Share Posted December 18, 2020 Anditsgone Link to post Share on other sites
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