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Yet Another Bullish Pattern on the Hourly ES S&P Futures 12/10/21

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Just when it looks as though bears might have a shred of hope, potentially bearish setups turn bullish again. Ho hum. It's only been like this for a dozen years, so why expect anything different. 

Right now, this pattern only has clearance to 4697, where it runs into chart resistance. But if it clears that, then it will set its sights on testing the high of 4711. God help the bears if they clear that. They'd get to 4745 in a heart beat, and the measured move implied target of the big base pattern would be 4950.

Although I don't think they could do it today. :angry:

tvc_c193aaa73b6ffc4fe047dadf88c2e7e9.png

 

More later! Meanwhile, the big picture. 

Reason for Hopeful Pessimism on Gold

What I Did Won’t Surprise You, as Buy Signals Surged in Swing Trade Screens

Here’s Why Truncated 6 and 12 Month Cycles Are Scary

Why It’s Big Trouble that Real Time Tax Data Shows Economy Still Growing Fast

When the Fed Balance Sheet Will Hit the Fan

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If you want to know why Treasuries are doing so well here, 12/14-12/16 Treasury will pay down $209 billion in T-bills vs. issuing $90 billion in coupon. That's $129 billion in excess cash. The second the debt ceiling bill is signed into law, that shit ends, and goes in reverse. The shit's about to hit the fan, people. Buckle up. 

https://liquiditytrader.com/index.php/2021/12/04/why-its-big-trouble-that-real-time-tax-data-shows-economy-still-growing-fast/

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