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If You Meet Captain Kurtz on the Road, Kill Him 7/19/21

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Because he's a knockoff.  

4 hours ago, Jimi said:

Captain Kurtz meets Robert Pirsig.

That's what comes to mind when reading about your passage through Poland, Doc.

May you find what you seek.

Meanwhile, it's the middle of the night in New Jerk, Asia is in later afternoon trading, and Your Rope has yet to open. As usual, Asia has copied the US market and continued the selloff. They've almost reached an apparent 5 day cycle projection of 4290, and 5 day cycle indicators are getting bottomy, or, rather, bottomish.  No doubt Europe will reverse the overnight selling as the Europeans tend to be an optimistic bunch about the US fucutures. They also happen to be swimming in an ocean of ECB QE.



Finally, we have the rest of the Fed's regular monthly MBS settlements, coming today and Wednesday, around $40 billion across the two days, on top of last week's $83 billion. Most of that was funneled into the Treasury market. There's evidence to suggest that that has run its course. I'll be posting a short report on that over at Liquidity Trader Money Trends later today. 

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Meanwhile, as for the longer term stock market technical outlook - Here’s What Friday’s Selloff Means for Our Future

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Something's happenin' here. What it is ain't exactly clear. 

But a 5 day cycle projection

has been hit and is already done. 

Here's the 2 hour bars for perspective. The breakdown from the top pattern measures to 4185. 


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