DrStool Posted March 3, 2021 Report Share Posted March 3, 2021 They say that bull markets climb a wall of worry. Being from Philly, I am familiar with a different concept, which I think applies here. Back home in Phulllufya, cops grease light poles to stop the idiots from climbing them when one of our sports teams wins something, once every couple of centuries. People climb them anyway. When they slide back down, woohoo, they get a nose full of Crisco. In this market, bullish traders keep climbing the poles, because bulls are always winners. Then we keep getting these intraday slides. But the trends reappear and the boyz slither right back up. Uptrend channels get busted, and then a new, wider one forms. It's ornery, disconcerting, and hard as hell to trade. Slide down, climb up. Slide down, climb up. Top out here, top out there. Bottom here, bottom there. They're killin' me, I tell ya! Technical analcysts can't get no respect. Maybe there's something to be said for buy, hold your nose, and hold. Which is exactly what Lord Jaysus and Secretary Janet want us to do. Never sell. Meanwhile, rocket scientists create these empty shells called SPACs, and sell them to "investors" who want to buy nothing. They don't care what it is, or what it does. Nothing sells. Nothing is the only thing that matters. That and a rising price, which is everything if it's nothing. What does your SPAC own? "Nothing." Good, I want some of that! So Wall Street creative types are happy to oblige by creating ever more supply of nothing for the market to absorb. The funniest thing is, when the use the cash to buy a real company, since they control it, they can then skim the revenue, on top of the fees they paid themselves when they created nothing. It works just like the medical business in the US. Create a huge ownership/management class to skim billions and inflate costs, while paying off politicians to keep the skim going at all costs. This is how Wall Street has always operated. Who cares if the stocks don't have a business. Does Bitcoin have a business? WTF are people buying with that? I want to start the first craptocurrency. Buttcoin. Everyone will be able to make it, and no electricity will be required. Just fiber. We can all eat fiber, make a few buttcoins each day, and be rich. That's how it works, right? This morning at nearly 5 AM in New York and 11 AM here in central Europe, we're looking at another rally, with a 2-3 day cycle projection of 3920. Forget the 5 day cycle for now. As dominant wave amplitudes have risen, frequencies have gotten shorter. There's a lot of noise and, as always, plenty of randomness. As you see on the chart of the ES fucutures, there's still a big downtrend channel alive here. They hit the top of it in the last hour. At 3900, they would edge above it. So watch for that. If it gets there and holds or continues, then I think we go back to test the high of 3937. At the moment, the 2-3 day cycle projection is 3920. Click to engorge We have our usual Primary Dealer Fed QE (free report) injection today, of a non-material few billion. The Treasury injected $25 billion into the accounts of dealers and other big money managers yesterday with T-bill paydowns. It's doing another $30 billion tomorrow. That helps buoy prices further out on the curve as the recipients of the cash on the paper being redeemed can't roll into similar short duration paper because none is available. So they go out a few years with some of it. And some of those dastardly money managers even park some of it in stocks. They like blue chip dividend payers, but as the Dow goes, the market follows. These T-bill paydown cash injections now look like a regular thing. I cover it in depth with projections, schedules, forecasts, and suggested strategies at Liquidity Trader. 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. This Week Will Tell If The Bear is Really Coming Out of Hibernation by Lee Adler- TECHNICAL TRADER FEBRUARY 28, 2021 GO TO THE POST Here’s The Evidence That The US Treasury is Bailing Out Stricken Primary Dealers by Lee Adler, LIQUIDITY TRADER, FEBRUARY 27, 2021 GO TO THE POST Meanwhile, here's some free stuff I've written about this unfolding catastrophe. US Treasury Injects Another $30 Billion Into Market Treasury Announces It Will Inject ANOTHER $25 Billion For $125 Billion Weekly Total 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...
This Week Will Tell If The Bear is Really Coming Out of Hibernation by Lee Adler- TECHNICAL TRADER FEBRUARY 28, 2021 GO TO THE POST
Here’s The Evidence That The US Treasury is Bailing Out Stricken Primary Dealers by Lee Adler, LIQUIDITY TRADER, FEBRUARY 27, 2021 GO TO THE POST
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
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 Kerplunk. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 Red line is holding. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 No sooner did I post that than, DOINK Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 Buttcoin getting squeezed. Trading halted. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 Trading has reopened. Buttcoin released. Link to comment Share on other sites More sharing options...
Jorma Posted March 3, 2021 Report Share Posted March 3, 2021 The market thinks your buttcoin idea stinks. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 Actually, there already is a buttcoin. Too late. 😢 Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 9 minutes ago, Jorma said: The market thinks your buttcoin idea stinks. That's a compliment. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 The action is really disorderly. ES chart is a mess. Link to comment Share on other sites More sharing options...
BurntOnce Posted March 3, 2021 Report Share Posted March 3, 2021 rare earth metals remx has been on a rising trajectory. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 2-3 day cycle projection 3845. Done. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 Finally installed SSL. If you can't get in, let me know. Of course, if you can't get in, you won't see this message. I will send by quantum mechanics. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 5 day cycle projection 3795. Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2021 Author Report Share Posted March 3, 2021 This seems not good. Link to comment Share on other sites More sharing options...
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