DrStool Posted February 22, 2021 Report Share Posted February 22, 2021 And shoulders over 3 weeks. Completed, and busted. The thing measures to about 3805. The 5 day cycle projection points to 3855-70. The right shoulder is slightly higher than the left. I can't remember the last time one of these, with a right shoulder higher than the left, broke down and led to a big decline. Even 3800 would surprise me. Here at 4 AM ET, they've coming off a support convergence. The hourly oscillators got Dover Sole, so I'm gonna say that was the cycle low, subject to a test with a positive divergence within the next 6 hours. Click to engorge. Quelle est la raison du jour for this morning's selloff? The meltdown in the bond market is bringing collateral call pressure. The 10 year is now 1.37. The media is partly correctly blaming the bond market. But they are wrongly blaming rising yields, when the proximate, direct cause, is falling prices> Yields are the mirror of that, for sure, but they miss the point. Falling prices are triggering margin calls, leading to more falling prices, leading to contagion, as dealers and leveraged longs sell whatever they can to raise cash. This could spiral out of control. Skating on Thin Ice, Keep Life Preservers Handy To post your observations, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter. Treasury Announces It Will Inject ANOTHER $41 Billion Next Week Bulletin! Treasury Paying Down $55 BILLION RIGHT NOW to AVERT CATASTROPHE! Treasury Joins Fed to Try to Prevent Imminent System Collapse Primary Dealers are Already Dead Primary Dealers are Dead – Part 2 – Springtime Coming for Hibernating Bears FREE REPORT – Proof of How QE Works – Fed to Primary Dealers, to Markets, To Money Link to comment Share on other sites More sharing options...
Primary Dealers are Dead – Part 2 – Springtime Coming for Hibernating Bears FREE REPORT – Proof of How QE Works – Fed to Primary Dealers, to Markets, To Money
Jorma Posted February 22, 2021 Report Share Posted February 22, 2021 It doesn't mean a thing but TNX is exactly where it was a year ago, to the day, as it plunged during the Covid, sell Mortimore sell moment. A point never seen again, till now. Another milestone probably nobody even knows about is that HSBC just announced it is leaving the US retail banking biz. The legendary criminal bank bought the failing criminal Household Finance in 2002 to bail it out and since it had a tiny bank attached HSBC became a US bank. Everyone was overjoyed. I think its exit from the US makes a pretty good story about the end of an era. Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 We got the pullback to a higher low. 2-3 day cycle oscillators now on the buy side on 30 minute bars. Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 Balls are in trouble if they can't retake 3890 with conviction. Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 Ticked top of channel. Link to comment Share on other sites More sharing options...
Jorma Posted February 22, 2021 Report Share Posted February 22, 2021 How many times have they played this movie? Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 Hourly indicators bullish, but there's a lot of resistance around 3900 they gotta clear. Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 Over the past couple of months in my chart picks I've ignored technical sell signals as short sale selections because trend structures were still solidly bullish. Many of those sell signals have proven that they would have been profitable shorts. The times, they are a changin'. Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 By the same token, a far higher percentage of buy signals are turning into failures. Again, this is a sign that something evil this way comes. Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 A little perspective with 2 hour bars. Gives us a next 5 day cycle projection of 3850. Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 The Wall Street media misinterpretation of the bond market problem is laughable. Link to comment Share on other sites More sharing options...
DrStool Posted February 22, 2021 Author Report Share Posted February 22, 2021 View this post on Instagram A post shared by Lee Adler (@200daysineurope) Do have a nice night and a good day tomorrow! Good night all! Link to comment Share on other sites More sharing options...
Jimi Posted February 22, 2021 Report Share Posted February 22, 2021 1 minute ago, DrStool said: Do have a nice night and a good day tomorrow! Good night all! Lovely serene photo. Those are Roman ruins in the foreground, I betchya. Christian habit of erecting their temples where the Pagans had theirs. Link to comment Share on other sites More sharing options...
Jimi Posted February 23, 2021 Report Share Posted February 23, 2021 Cryptos ringing the top overnight. Link to comment Share on other sites More sharing options...
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