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Do Overnight Pullbacks Count? 1/11/21

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I guess we'll find out. 

Near 5 AM in New York, trend support at 3790-92 on the ES holds the key. If it holds, back up we go. If they break it, bears get a shot. 

tvc_4c7aba8f418c245f6f3ef8d2f67128ef.png

If there is a downdraft, the likely target would be trend support around 3760-70. But if they hold here, should get back to the 3820 area as a first test of the highs. 

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Higher yields + 2k stimulus + Biden gives more mojo to the dollar hence a sell-off in EURUSD.

I see a lot of articles about upcoming inflation and pent-up consumer demand in 2021, and more in 2022.

This could kill nasdaq BTW.

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40 minutes ago, Jorma said:

When Texas succeeds from the Union will it's banks still be part of the Federal Reserve System?  

Please correct your grammatical errors, Master Jorma. 

😄😄

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52 minutes ago, DrStool said:

Please correct your grammatical errors, Master Jorma. 

😄😄

Sorry 

When Texas secedes will it's banks still be part of the Federal Reserve system.

Asking for a friend.

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These are serious questions if you follow events to their absurd logical conclusion.  How does the financial system work, or legal system work, vis a vis corporations with questions of sovereignty in the air.   The 'markets', corporations that is, don't think it much matters.  At least they didn't till last week. I think they are going to find out that the joke is on them.

Hopefully all this stuff will work out over years. Not the next few months. 

I wouldn't scratch Israel off your list of destinations Lee.

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Israel would be a last resort. Croatia is wonderful, but a bit too remote and homogeneous for my taste. I like diversity. I'm still planning on settling in France eventually. I just hope that the French center will hold. 

Croatia reported just a couple hundred new cases of the virus today. That's down from over 4,500 a day just a couple of weeks ago. The restrictions seem to be working, if the data can be believed. 

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