DrStool Posted June 23, 2021 Report Share Posted June 23, 2021 Yep, that was the 5 day cycle projection as of 1 AM in New York. It implied that resistance at 4242, 4248, and 4248, would be non factors, or at least not much. An old megaphone line now at 4274, and another one at 4284 could be. But then the fucutures pulled back just a little between 2 AM and 5 AM. That broke the 2 day uptrend channel and put 5 day cycle oscillators on sell signals. If this pullback doesn't stop at somewhere around 4230, it could mean pahtay ovah. Below 4225, and bears could drive. Below 4205 would open the trap door for a crash. So which will it be? Let's key on the 4225-4230 area for a signal. 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 Flying Blind, But They Warned Us LEE ADLER 2 - TECHNICAL TRADER JUNE 21, 2021 That Got Ugly Fast LEE ADLER 3 - GOLD TRADER JUNE 21, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted June 23, 2021 Author Report Share Posted June 23, 2021 By the way, even with this pullback, the 5 day cycle projection is still 4290. Don't count the big dippers out yet. Link to comment Share on other sites More sharing options...
Jimbo Posted June 23, 2021 Report Share Posted June 23, 2021 THE FEDS EXERCISE IN SCHRODINGIAN EXPANSION What is the FED doing right now?????? It is expanding the schrodingian uncertainty box where in lies its future actions. Creating maximum confusion as to its future actions. This of course is the oppposite to Schrodingian contraction. Its taper talk is just that ....talk. Synthetic Negative QE. I think the inflation trades are still good. Blackrock obviously agrees having just bought $6 billion in houses. Financed I presume with a lot of low rate long dated debt to give the investment a high J Number. The FED by its interest rate supression activites, money printing, direct bond buying and schrodingian expansion, is actually increasing the J number of this type of investment. After all if your Blackrock why not go along for the free ride provided by the FED. Link to comment Share on other sites More sharing options...
DrStool Posted June 23, 2021 Author Report Share Posted June 23, 2021 Bulls still have the ball. Link to comment Share on other sites More sharing options...
Mkucstars Posted June 23, 2021 Report Share Posted June 23, 2021 But do they really? Link to comment Share on other sites More sharing options...
Mkucstars Posted June 23, 2021 Report Share Posted June 23, 2021 I see some weakening of momentum and expect some profit taking to take hold. Not negative per se, but not bullish Link to comment Share on other sites More sharing options...
Mkucstars Posted June 23, 2021 Report Share Posted June 23, 2021 But the question remains, will a down day be tolerated? Only the wizard of FED knows Link to comment Share on other sites More sharing options...
Mkucstars Posted June 23, 2021 Report Share Posted June 23, 2021 LOL, I see I am talking to myself. Am I the last remaining bear? One can only hope... Link to comment Share on other sites More sharing options...
DrStool Posted June 23, 2021 Author Report Share Posted June 23, 2021 If they stay above 4235, it would validate a new uptrend channel. Link to comment Share on other sites More sharing options...
DrStool Posted June 23, 2021 Author Report Share Posted June 23, 2021 41 minutes ago, Mkucstars said: LOL, I see I am talking to myself. Am I the last remaining bear? One can only hope... Yep. I wish more people were here, but the fact that they're not could be a bearish sign. Link to comment Share on other sites More sharing options...
DrStool Posted June 23, 2021 Author Report Share Posted June 23, 2021 Of course, I was out on a boat all day yesterday. Link to comment Share on other sites More sharing options...
DrStool Posted June 23, 2021 Author Report Share Posted June 23, 2021 And climbing steep rocky hills, pretending to be 17, not 70. Link to comment Share on other sites More sharing options...
DrStool Posted June 23, 2021 Author Report Share Posted June 23, 2021 I got 80% of the way to the top and said WTF are you doing up here, idiot? At that point, I turned around and stumbled back down, ripping up my old man legs in the nettles on the hillside. Link to comment Share on other sites More sharing options...
DrStool Posted June 23, 2021 Author Report Share Posted June 23, 2021 But JFC, I had fun. Link to comment Share on other sites More sharing options...
GregFokker Posted June 23, 2021 Report Share Posted June 23, 2021 That's how I'd describe my lifetime of trading 😄 Link to comment Share on other sites More sharing options...
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