Jump to content

Something's Happenin Here, What It Is... 9/20/21

Rate this topic


Recommended Posts

It ain't exactly clear, but we have some parameters to watch this morning, that should tell us. Right now at 7:15 AM in New York, the ES is hanging from the lowest downtrending sport line. If they don't climb back above 4375 in the next two hours, then no recovery is likely from the outset in NY. The target would be the August 19 low around 4350. 

Here's the 2 hour bar perspective. The 2 hour bar oscillators have reached the level of the August 19 low. If they don't rebound here, we're in for an epic, epic day. Not just epic, mind you, but epic epic. 

tvc_bd5505893c7521d3b51a1d37f8a138cc.png

 

Here's the one hour bar perspective. The 5 day cycle projection is 4350-55. That squares with the major sport at the August low. I would expect the next sustained bounce to start from there.  

tvc_99833f7141232ad8659514fbfc8d8953.png

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.

Meanwhile, for your longer term infotainment and edification:

Stock Market on the Brink

Get Ready for the Coming Bond Market Bloodbath

Lots of Sell Signals Again From Friday’s Swing Trade Screen

Useless Banking Indicators Except for One Giant Red Flag

Link to comment
Share on other sites

Just had a hairline fracture of Aug 19 low. Bounce here, then lower, but questionable whether today or later.  

The Chinese margin call heard round the world. 

tvc_a0a657fd78db930541641c35e1efd77d.png

Link to comment
Share on other sites

Just eyeballing the ES intraday or night declines and subsequent bounce points since April around the 19th of each month, looks like:

April 19 high to April 20 low--64 points

May 18 high to May 19 low 124 points 

Friday June 18 high to Sunday night Jun 20 low 90 points

Friday July 16 high to Monday July 19 low 144 points

August 18 high to August 19 low 102 points

Friday Sept 17 high to Sept 20 low (so far) 132 points

I didn't measure these point declines exactly, but think it's decently close. Does recent history repeat and we bounce for awhile? Or is it a case of something works until it doesn't? 

Link to comment
Share on other sites

4 minutes ago, Mkucstars said:

My guess is bounce. Not ready to collapse, just a scare but it's coming.

Looks like another selling Climax like 14th September. few days rest is required before another wave begins. 

Now everything is broken Bullmarket is over. It will be in rear view mirror that top is in come October.

3 Monthly red candle will end the Bearish picture.

 

20-9-2021 mid morning.png

Link to comment
Share on other sites

33 minutes ago, PullMyFinger said:

Just eyeballing the ES intraday or night declines and subsequent bounce points since April around the 19th of each month, looks like:

April 19 high to April 20 low--64 points

May 18 high to May 19 low 124 points 

Friday June 18 high to Sunday night Jun 20 low 90 points

Friday July 16 high to Monday July 19 low 144 points

August 18 high to August 19 low 102 points

Friday Sept 17 high to Sept 20 low (so far) 132 points

I didn't measure these point declines exactly, but think it's decently close. Does recent history repeat and we bounce for awhile? Or is it a case of something works until it doesn't? 

here it is 2 & 4%

 

sc.png

Link to comment
Share on other sites

I believe the corporate supply both equities and fixed income are what is crushing this market. This has been going on for months. It's like a cancer that's finally taking a toll. I warned about this a couple years ago. I said that stock buybacks were two-way street. I wrote that once the stock prices reached a certain "permanently high plateau," the supply will come out of the woodwork.

 

Link to comment
Share on other sites

So much easier to use this site with Android. I'm just discovering this after how many years? I can voice text. I can use the voice translator. Got to promote!

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...