DrStool Posted October 28, 2021 Report Share Posted October 28, 2021 Yesterday as we were defarting for the evening, I noted that ES fucutures were probably headed for that sport line at 4554. They exploded through that level by a full point! Then it stopped, reloaded, and tried and failed again. Now the 5 day cycle projection is calling for 4540 or fight. Other sport levels to watch are 4545, 4530,25,20. If 4540 holds, I think that there would be a very good chance of heading toward the highs again late in the day. This is just the intraday look. For more: Gold Report Glitch Stocks Look Ready for Another Liftoff More Sells Than Buys in Screen, But I Added Two Buys This Week Get the big picture in your inbox every weekend. Get your regular updates on all things monetary, and what that means for stonks. US Treasury Says, More Beans, Mr. Taggart! Meanwhile, Bitcoin had a little blood drawn over the past few days. This is still in the context of an uptrend. It hasn't affected the cycle projections... Yet. We had noted the correlation with the 10 year Treasury yield. That still seems to be working, sometimes more closely than others. Cause and effect? Nah. In fact, I can't think of a mutual driver that would cause them to move together. So I think this is all narrative driven. Rising bond yields drive rising inflation fears, and actual inflation. Note that this is the opposite of the conventional wisdom that rising bond yields REFLECT rising inflation expectations. The rising yields are the CAUSE of rising inflation expectations. Regardless of that fact, cryptocopulators associate rising inflation with higher cryptophoria. Hence the higher prices of these purest of the pure speculative fictional stores of "value ." Value, of course being whatever someone will pay you for your holdings at that moment. 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. Link to comment Share on other sites More sharing options...
DrStool Posted October 28, 2021 Author Report Share Posted October 28, 2021 Now if they break out above 4571, I think they'll test the high by this afternoon. 5 day cycle indicators have edged weakly back to the buy side. We'll see. I'm looking forward to the next cycle projections. Link to comment Share on other sites More sharing options...
Mkucstars Posted October 28, 2021 Report Share Posted October 28, 2021 Well I shorted the rip. Tight stops but that rocket seems to be out of gas IMO. Link to comment Share on other sites More sharing options...
DrStool Posted October 28, 2021 Author Report Share Posted October 28, 2021 Buttcoin is only up 4% today. Given the buttcoin - Treasury yield correlation, I'd say that that maybe doesn't bode well for bonds? 2-3 day cycle projection 4596. Link to comment Share on other sites More sharing options...
DrStool Posted October 28, 2021 Author Report Share Posted October 28, 2021 We'll end with a 5 day cycle projection of 4615. Ciao. See you tamarra Link to comment Share on other sites More sharing options...
MisFit Kid Posted October 28, 2021 Report Share Posted October 28, 2021 29 minutes ago, DrStool said: We'll end with a 5 day cycle projection of 4615. Ciao. See you tamarra you are not staying around for the Kings earnings report (AAPL).......... fundamentals are all that matter to the fraudexes...... Link to comment Share on other sites More sharing options...
MisFit Kid Posted October 28, 2021 Report Share Posted October 28, 2021 GOOG and AAPL a little down in the after life...... tomorrow is it BTFD as usual.......... or for the first time in a long time, is it truly..... SNOT is running down his nose...... >: although, technically, SNOT is green... and fundamentals technicals FED, et al. are all that matter....... (and Flo-Bot Friday) Link to comment Share on other sites More sharing options...
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