DrStool Posted June 21, 2021 Report Share Posted June 21, 2021 A little panic after the close on Friday, with piling on in the early going in Asia broke the longest megaphone. But the Europeans rode to the rescue at their open, bringing the ES futures back from a touch of the lower line of the shortest widest one. Hourly oscillators roughly representing a 3-5 day cycle turned up from their lowest levels since the May 12 and 19 lows. So this looks like a short term bottom, with some backing and filling, and a possible retest or minor new low likely before liftoff. 5 day cycle low projections were obliterated on the selloff. Even a 2-3 day cycle low projection of 4137 was smashed. The comeback hit resistance at 4169. Next likely R levels are 4172 and 4182. If you are a new visitor, please register and join in! To post your observations and charts, 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. Meanwhile, Pick List Longs Escape With Flying Colors, Now for the Shorts LEE ADLER 2 - TECHNICAL TRADER JUNE 20, 2021 Bond Market Has Mitigated Some of the Risk, But Don’t Go To Sleep LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS JUNE 16, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 Flying Blind, But They Warned Us LEE ADLER 2 - TECHNICAL TRADER JUNE 21, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 BTC now has a 9 month cycle projection of 28,000. Breaking 29,000 would result in a conventional measured move target of 0 for the head and shoulders pattern breakdown. Actually -5,000, but I don't think it can go negative, can it? Link to comment Share on other sites More sharing options...
Jorma Posted June 21, 2021 Report Share Posted June 21, 2021 17 minutes ago, DrStool said: BTC now has a 9 month cycle projection of 28,000. Breaking 29,000 would result in a conventional measured move target of 0 for the head and shoulders pattern breakdown. Actually -5,000, but I don't think it can go negative, can it? I will be a buyer at zero. Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 16 minutes ago, Jorma said: I will be a buyer at zero. But you will owe them when it drops to -5000. Link to comment Share on other sites More sharing options...
potatohead Posted June 21, 2021 Report Share Posted June 21, 2021 52 minutes ago, DrStool said: But you will owe them when it drops to -5000. who is them? Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 The Them. 😁😁😁 Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 2-3 day cycle projection 4210. Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 resistance 4193 and 4195. Watch out if they break those. Link to comment Share on other sites More sharing options...
potatohead Posted June 21, 2021 Report Share Posted June 21, 2021 I have never seen anyone buy an asset on leverage and make the announcement prior to buying their position. https://www.streetinsider.com/Corporate+News/Microstrategy%2C+Inc.+(MSTR)+Acquires+Additional+Bitcoins+and+Now+Holds+Over+105%2C000+Bitcoins+in+Total/18580675.html Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 I knew there was a reason why I didn't want to go short. I just knew it. fornicate. Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 5 day cycle projection 4225. Link to comment Share on other sites More sharing options...
DrStool Posted June 21, 2021 Author Report Share Posted June 21, 2021 We got a trendline and a round number here. Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 21, 2021 Report Share Posted June 21, 2021 24 minutes ago, potatohead said: I have never seen anyone buy an asset on leverage and make the announcement prior to buying their position. https://www.streetinsider.com/Corporate+News/Microstrategy%2C+Inc.+(MSTR)+Acquires+Additional+Bitcoins+and+Now+Holds+Over+105%2C000+Bitcoins+in+Total/18580675.html A new "Asset" category........... the Crypto-Junk Bond (probably have a negative rate in the future). soon followed by a slew of CJB indexed ETF's "for the masses"........ https://www.bloomberg.com/news/articles/2021-06-07/microstrategy-to-sell-400-million-in-debt-to-buy-more-bitcoin?sref=6uww027M Link to comment Share on other sites More sharing options...
potatohead Posted June 21, 2021 Report Share Posted June 21, 2021 FED'S BULLARD: I DON'T SEE HOW INTEREST RATES IN THE UNITED STATES COULD GET SUBSTANTIALLY HIGHER THAN THEY ARE IN EUROPE AND JAPAN. Link to comment Share on other sites More sharing options...
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