Jump to content

Is the Hourly Chart Count Basie? 10/13/21

Rate this topic


Recommended Posts

Here's the 2 hour bar chart. While we still have an hourly bear market, the 5 day cycle count and pattern of the past two weeks certainly looks base-y. The levels to watch on the downside are 4327 and 4309. Break those and we could have a bear party. 

tvc_480b04fce66a92b0f50b6d6e89576c41.png

Here's the one hour bar look. Dare I say it looks bullish?

tvc_b1d34351a1421434edcc806e84e2e42b.png

 

Bulls need to clear 4375 and 4400 to give this Count Basie some upside rhythm. 

 

 

This is just the intraday look. For more: Head and Shoulders Above

Get the big picture in your inbox every weekend.

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.

 

  • Upvote 1
Link to comment
Share on other sites

1 hour ago, Jorma said:

I was puzzled last night about  why they are still paying down Bills. Its because the debt ceiling bill was just passed last night by the House.  It needs Biden's signature, then we will see.

All they've done is to kick the can into December. It will be interesting to see if the market buckles under $240 billion a month in borrowing over the next 2 months. https://liquiditytrader.com/index.php/2021/10/07/booming-tax-revenues-overheating-risk-and-the-real-crisis-starts-now/

Link to comment
Share on other sites

Missed all the "fun" of the last couple days. Now ensconced into PullMyFinger Capital's Latin American H.Q. office/condo concrete box. Just dodged Hurricane Pamela when it took a right turn toward the mainland, so not trading much yet this week. You will have to rely on someone else for your contrarian trading signals. 🙂

Looking at NQ charts this morning, I think I might be reduced to trading a 4 minute chart when I do have time to watch mr. market. This churn is making me seasick.

Keep 'em down!

 

Link to comment
Share on other sites

I have arrived in Szczecin. Say that fast 3 times. So far, I'm underwhelmed. 

pronounced Shchetseen. I know. Doesn't help. 

Not much happening here, either. 

tvc_9a0db5de9866133479531d906c366117.png

But the pattern now is hyper bullish. But only if they clear 4360 in the next couple of hours. 

 

Link to comment
Share on other sites

9 minutes ago, PullMyFinger said:

Arc de Triomphes have been working well today. Here's the Double Menorrah formation on the 8M NQ. 

Done trading for the day. Hopefully see y'all tomorrow, or maybe Friday!

 

Screen Shot 2021-10-13 at 9.46.36 AM.png

iu.jpeg

Excellent! Rarely seen. 

By the way. It's starting. $65 billion in net new T-bills announced to settle next week. Let the RRP slush fund drawdowns begin. 

 

Link to comment
Share on other sites

4 hours ago, PullMyFinger said:

Edit: sorry, that was 30M and not 60. Or, it's kind of like you throw a rock into calm water and watch the waves radiating out from the center. 

30 megaton v. 60 megaton.

Link to comment
Share on other sites

(I know it's supposed to be proprietary, but today's action was the most-boring in the last 3,000 years... prior, there was a period of surplus rains & related wheat production and the price of the latter didn't budge for 27 years. That was the last time my proprietary stuff triggered. And if you know your Pharaonic history, then you know what Aakheperre - and lo! the entire ancient world - suffered the next day....)

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 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...