DrStool Posted August 26, 2021 Report Share Posted August 26, 2021 The market is in one of its patented sideways consolidations that happens so frequently when it edges to new highs. It's monotonous. I'd love a different outcome, but expecting something different would be insane. So as we look at this at 5:45 AM ET, here we are again testing an uptrend channel, with no sane reason to believe that there will be a breakdown. The key level to watch is 4482. They'd need to break that to have any likelihood of a material move to the downside. Meanwhile, we still have resistance at the top of the megaphone pattern, which I'll show you on the two hour bars. I see no reason to expect that to be broken, but obviously it could happen. If it does, there would be room to run to 4530 in the blink of an eye. And now for your longer term listening and dining pleasure: This Could Be the Start of Something Big for Gold Here are the Keys as the Trend is Intact, But on Edge Despite the Rally Primary Dealers Are Still At Risk Chart Picks – 4 New Picks From Friday’s Swing Trade Screen If you are a new visitor to the Stool, 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. Edited 23 hours ago by DrStool Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2021 Author Report Share Posted August 26, 2021 Like a football game (soccer) tied 0-0 in the middle of the second period. Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2021 Author Report Share Posted August 26, 2021 sorry, that was 2 hr bars. Here's 1 hr. Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2021 Author Report Share Posted August 26, 2021 Market broke support when Kabul explosion hit the wires. Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2021 Author Report Share Posted August 26, 2021 Fedhead Kaplan was simultaneously speaking and recommended that Fed announce the beginning of taper in September. Will we see it in September, or lose it, to a summer night? Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2021 Author Report Share Posted August 26, 2021 We're a little overdue for a 5 day cycle low. Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2021 Author Report Share Posted August 26, 2021 Already overshot 5 day cycle projection of 4474. Link to comment Share on other sites More sharing options...
potatohead Posted August 26, 2021 Report Share Posted August 26, 2021 is anyone here? H E L L O Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2021 Author Report Share Posted August 26, 2021 Nope. Last vacation week. Back to work in September. I move into my new apartment tomorrow. Won't be here much until late in your day. Ciao! Link to comment Share on other sites More sharing options...
DrStool Posted August 26, 2021 Author Report Share Posted August 26, 2021 QE Still = 100% of Treasury Issuance, But Coming Change = Crash Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.