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You Can't Keep a Good Market Down 11/11/21

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Why did the market bounce where it did? Why, the green line, of course. Eventually, one of the green lines holds. The trick is to guess which one. 

And of course, we must contend with the red lines on the way back up. And there are two directly overhead here at 4:45 AM NY Time. 

These are at 4665 and 4670 on the ES, S&P 500 fugutures. And there's an old busted greeen line or two above that at 4675 that would need to be cleared to sustain a bigger rally. So we'll wait and see on that. If any of these resistance levels hold, then a lower low might be in the cards later today. 

Of course, we always assume the worst in this market. I.e. it's going up. 

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This is just for intrepid day traders. 

For more on the big picture and elsewhere: 

Gold Cycle Projections Hold Good News

Relentless Rally Reaches Likely Reaction Point

Swing Trade Screens Have Buy Side Surge

Why Jerome Powell Had a Frog In His Throat

 

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Massive police presence in downtown Warsaw on the 100th anniversary of Polish independence. I mean we are talking thousands of police in riot gear. There's some kind of massive march in the street in front of my building. It sure doesn't seem like a celebration. 

Ominous.

 

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I've adopted as a policy to stay out of the streets, and preferably as far away as possible, whenever any crowd assembles wearing the same colored clothes or waving the same flag etc.  Cops definitely qualify.  It's probably ingrained survival stuff by now for Our People.

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2 hours ago, Mkucstars said:

Noticed the 10 year has not budged all day. Strange. Per your title, IS this a good market? Nice to see precious metals move. I smell danger.

Bond market is closed for Veterans Day. 

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