DrStool Posted September 28, 2021 Report Share Posted September 28, 2021 And so are my charts. Investing.com is offline in a web browser, although I can still get it on my phone. So I'll grab a screenshot from that. From my eyeball, it looks like a 5 day cycle projection of 4400 has been hit. As soon as the charts are back, I'll get a closer look and post it. OK. I've had an enlarged look as you see the chart below, and I'll amend that 5 day cycle projection to 4380. What's obvious is that we've had a head and shoulders breakdown over the past few days. It has a conventional measurement target of 4360. I don't doubt that we could see that today. For the bigger picture see The Ugh Market. 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: Rangebound Noisy Signals from Swing Trade Screen The Ugh Market Liquidity Matters, The Fed’s BS Doesn’t Get Ready for the Coming Bond Market Bloodbath When Hope Is Not a Good Thing Useless Banking Indicators Except for One Giant Red Flag Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 OK. They're ba-a-a-a-a-ck. Here's a cleaned up, updated chart on the hourly. I like that 4360 target. Link to comment Share on other sites More sharing options...
PullMyFinger Posted September 28, 2021 Report Share Posted September 28, 2021 Could have sworn I kept hearing the word "transitory". New word salad prevarication coming our way. It's almost as if these folks have only a casual relationship with the truth. Go figure. Fed Chair Powell to warn Congress that inflation pressures could last longer than expected https://www.cnbc.com/2021/09/27/fed-chair-powell-to-warn-congress-that-inflation-pressures-could-last-longer-than-expected.html Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 Powell wouldn't recognize trend inflation if it sat on his face and farted. Link to comment Share on other sites More sharing options...
Jorma Posted September 28, 2021 Report Share Posted September 28, 2021 The big dog in flation is oil. Link to comment Share on other sites More sharing options...
PullMyFinger Posted September 28, 2021 Report Share Posted September 28, 2021 Heaven help me, went an eensy bit long at NQ 14773 for a scalp. Link to comment Share on other sites More sharing options...
BurntOnce Posted September 28, 2021 Report Share Posted September 28, 2021 the Federal Reserve has three mandates, "promote effectively the goals of maximum employment, stable prices, and moderate long term interest rates". today powell dropped the last one to make it two mandates. Link to comment Share on other sites More sharing options...
Jorma Posted September 28, 2021 Report Share Posted September 28, 2021 The market is still down. Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 The triple mandate is a new one on me. Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 5 hours ago, DrStool said: OK. They're ba-a-a-a-a-ck. Here's a cleaned up, updated chart on the hourly. I like that 4360 target. And it's done. Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 I guess the next stop is 4330 if 4350 doesn't hold. Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 Just now, DrStool said: I guess the next stop is 4330 if 4350 doesn't hold. Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 Both the 5 day and 2-3 day cycle projections are both also kinda pointing at 4330. Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 The EUR/USD is testing a major/major sport level. Link to comment Share on other sites More sharing options...
DrStool Posted September 28, 2021 Author Report Share Posted September 28, 2021 I feel another dump coming on. Link to comment Share on other sites More sharing options...
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