DrStool Posted November 11, 2021 Report Share Posted November 11, 2021 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. 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 Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2021 Author Report Share Posted November 11, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2021 Author Report Share Posted November 11, 2021 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. Link to comment Share on other sites More sharing options...
GregFokker Posted November 11, 2021 Report Share Posted November 11, 2021 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. Link to comment Share on other sites More sharing options...
Mkucstars Posted November 11, 2021 Report Share Posted November 11, 2021 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. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2021 Author Report Share Posted November 11, 2021 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. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2021 Author Report Share Posted November 11, 2021 In the end, it was a quiet day. I don't understand the massive show of force. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2021 Author Report Share Posted November 11, 2021 They were expecting trouble, or looking for it, but all was quiet. Link to comment Share on other sites More sharing options...
Jimbo Posted November 12, 2021 Report Share Posted November 12, 2021 The joy of 30 year treasuries So I can buy a 30 yr bond yielding under 2% while inflation is above 6%. And only throw 4% of my capital away every year for the next 30 years. Sounds good to who?? Link to comment Share on other sites More sharing options...
Mkucstars Posted November 12, 2021 Report Share Posted November 12, 2021 To the CEOs who can borrow enough to buy back enough stock to prop up the price and create higher "earnings" Link to comment Share on other sites More sharing options...
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