DrStool Posted September 30, 2021 Report Share Posted September 30, 2021 The ES fucutures edged through the top of the 5 day downtrend channel at around 2 AM this morning New York Time, but they didn't get far. They ran into resistance at the 38.2 fiber nacho line of the previous decline. As of 4:45 AM ET, the futures are back to the downtrend line that they broke nearly 3 hours ago. The number to watch on the upside 4399. If they get through that however, it's still not quite clear sailing. They could bump their head and recoil from 4405. Under 4377, bears should be in control. Hourly oscillators are iffy, particularly momentum, which is the middle one. A 5 day cycle projection of 4390-95 for the up phase was hit. Click here for the longer term big picture. 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: 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 30, 2021 Author Report Share Posted September 30, 2021 Bond Market Bloodbath Gets A Head Start Link to comment Share on other sites More sharing options...
Jorma Posted September 30, 2021 Report Share Posted September 30, 2021 29 minutes ago, DrStool said: Bond Market Bloodbath Gets A Head Start Link broken. Link to comment Share on other sites More sharing options...
DrStool Posted September 30, 2021 Author Report Share Posted September 30, 2021 9 minutes ago, Jorma said: Link broken. Thank you! I forgot to check this morning. Now corrected. Link to comment Share on other sites More sharing options...
Jorma Posted September 30, 2021 Report Share Posted September 30, 2021 It seems the debt ceiling is going to be suspended till Dec 3. That's the current consensus by seers. With a due date in 2 months the Treasury is going to stuff the coffers with every penny it can, I would think. Link to comment Share on other sites More sharing options...
DrStool Posted September 30, 2021 Author Report Share Posted September 30, 2021 5 minutes ago, Jorma said: It seems the debt ceiling is going to be suspended till Dec 3. That's the current consensus by seers. With a due date in 2 months the Treasury is going to stuff the coffers with every penny it can, I would think. Catastrophic market impact. The could rebuild the cash account to a trillion if they wanted to. Link to comment Share on other sites More sharing options...
DrStool Posted September 30, 2021 Author Report Share Posted September 30, 2021 This monster head and shoulders measures to 4130 if it breaks. And hourly oscillators currently portend a good chance of that happening. Link to comment Share on other sites More sharing options...
DrStool Posted September 30, 2021 Author Report Share Posted September 30, 2021 You could make the case that this thing already measures to 4220 and I would not argue with you. Link to comment Share on other sites More sharing options...
potatohead Posted September 30, 2021 Report Share Posted September 30, 2021 Is this a lot? Asking for a friend..... *FED REVERSE REPO USAGE RISES TO RECORD $1.605 TRILLION Link to comment Share on other sites More sharing options...
DrStool Posted September 30, 2021 Author Report Share Posted September 30, 2021 27 minutes ago, potatohead said: Is this a lot? Asking for a friend..... *FED REVERSE REPO USAGE RISES TO RECORD $1.605 TRILLION Bond Market Bloodbath Gets A Head Start Link to comment Share on other sites More sharing options...
DrStool Posted September 30, 2021 Author Report Share Posted September 30, 2021 Positive divergences in the hourly oscillators versus Tuesday's low. 2-3 day cycle projection 4317 done. Looks like 2-3 day cycle low in the second half of a weak 5 day cycle up phase. Next rollover should smash the lows. Link to comment Share on other sites More sharing options...
potatohead Posted September 30, 2021 Report Share Posted September 30, 2021 20 minutes ago, DrStool said: Bond Market Bloodbath Gets A Head Start I have heard of Peak oil, peak this, peak that, is this peak RRP? $1,600,000,000,000...fu$k me Link to comment Share on other sites More sharing options...
Jorma Posted September 30, 2021 Report Share Posted September 30, 2021 2 hours ago, DrStool said: Catastrophic market impact. The could rebuild the cash account to a trillion if they wanted to. I'm not so sure suspension of the celling is what is happening. No news source says because they don't understand the subtleties. Link to comment Share on other sites More sharing options...
DrStool Posted September 30, 2021 Author Report Share Posted September 30, 2021 Stopgap funding approved. Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 30, 2021 Report Share Posted September 30, 2021 5 minutes ago, DrStool said: Stopgap funding approved. was that caulk or spray...? Link to comment Share on other sites More sharing options...
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