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Pullbacks Ain't What They Used to Be- 11/16/21

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The ES S&P fugutures may have set a 5 day cycle low in the wee hours this morning. They look poised to move higher here again after making yet another higher low. Pullbacks just ain't what they used to be. Right?

Bears would need to take out 4675 to have hope of a reprieve, but there are multiple sport lines down to 4666, bwahahahaha, that would also need to be taken out.

Fat chance.

Meanwhile, the challenge on the upside would be to break through 4702. Then we'd look for a retest of the highs.  

tvc_29eb53d4fb923a73caf0573312aeccc0.png

 

For more on the big picture and elsewhere: 

Benefit of the Doubt to the Upside Until Proven Otherwise

The Fed Pulls The Plug, Macro Liquidity Cruiser Starts Its Turn

Buys and Sells in Balance in Swing Trade Screens

Gold Cycle Projections Hold Good News

Why Jerome Powell Had a Frog In His Throat

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Would you pay $59,000 for this? Well it was only $51,200 on New Years day but there have  been 8 price increases since then.  This isn't about inflation so much, it's about  how whacked Tesla is.  This isn't the place to clutter up with such entertaining stories of the day  but there is something about this one that really rings my bell.

https://jalopnik.com/a-tesla-model-y-will-now-cost-you-over-60-000-1848062028

 

Tesla model y.jpg

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20 minutes ago, DrStool said:

when is a top a bottom?

tvc_069f8486450060ae9e9ca8cd1bde71f4.png

"Phrased differently: when is "low" and when is "high"?"

J.M. Hurst, The Profit Magic of Stock Transaction Timing, p. 21. 

Doc, I bought Hurst's book from your bookstore about 137 years ago. Hurst's quote has stuck with me for a long time. Still haven't finished it, but I just picked it up again the other day. I usually bog down somewhere in Chapter 3. One of these days I gotta finish it. Maybe this time I will make it all the way through. 

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