DrStool Posted December 21, 2021 Report Share Posted December 21, 2021 Just after the market close yesterday, I wrote: 11 hours ago, DrStool said: Gap up tomorrow? Ho Ho Ho. Here at 4 AM in New York, the gap is set up, but the question remains. Will the market fall into the gap, or extend it? Resistance is now established at 4612. Support right now (4 AM ET) is around 4575, rising to 4585 around the New York open at 9:30 (15:30 CET where I am). The hourly indicators had set up a nice bullish pattern at the second low, which we were able to note yesterday. But now they're neutral. This could go either way, but given that the indicators are near their respective zero lines, the potential exists for a big move. Either way. Problem is, we don't know which way yet. I think that the direction of the breakout from the 4575-4612 range will be the tell. We'll want to watch the direction of the indicators before. They may give an advance warning. Meanwhile for the big picture. Is It Time to Quit if Your Chart Picks Crushed the Market Last Week? How to Tell When This Inconclusive Market Turns Dangerous Get Ready for a Slow Moving, but Perfect Storm Swing Trade Screens – More Buys Than Sells Again This Week (But I ignored them and stayed 90% short). Update to follow shortly. Prepare for Market Doom, the Moment of Truth Is Here Gold Hangs By a Thread on the Eve of Destruction 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 December 21, 2021 Author Report Share Posted December 21, 2021 Now in Malbork. Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 Got these shots last night in Starogard Gdański. Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 All I can say is, Merry Christmas to all and to all a good night! Ho Ho Ho! Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 2-3 day cycle projection is either 4635 or 4685. Ho Ho Ho. Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 5 day cycle projection is at least 4645. Which implies that the 3 day is likely to be 4685. Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 OK, my fellow Americans and other followers of the Do We Decimal System, if I get to 5280 followers on Twitter, would that be a milestone? Ink wiring minds want to know. Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 5 day cycle projection now looking 4675ish. CORRECTED. Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 Multiple trend resistance convergence 4640-41, 1-2 PM. Link to comment Share on other sites More sharing options...
BurntOnce Posted December 21, 2021 Report Share Posted December 21, 2021 damn the headwinds! Link to comment Share on other sites More sharing options...
Jorma Posted December 21, 2021 Report Share Posted December 21, 2021 Another $65bn in bills up but no coupons yet for end of quarter. Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 2 hours ago, DrStool said: 5 day cycle projection now looking 4575ish Typo. 4675ish. But if the buck stops here, then maybe... Otherwise, Knife, meet Butter! Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 1 hour ago, Jorma said: Another $65bn in bills up but no coupons yet for end of quarter. Too early. It is supposed to be $151 billion. I see no reason for that to be different. The coupon schedule doesn't change from the TBAC estimate. $85 billion in new T-bills today. $60 billion tomorrow. Paydown of $18 billion on Thursday G-d knows why, and then another $60 billion in issuance next Tuesday. So that's $187 billion in net new bills over the next week, then they clobber the market with $151 billion in longer term paper. I don't know about you, but I have a guess on where the bias will be. Get Ready for a Slow Moving, but Perfect Storm Link to comment Share on other sites More sharing options...
DrStool Posted December 21, 2021 Author Report Share Posted December 21, 2021 If they can get to 4625 we have a shot. Not a guarantee, but a shot. Link to comment Share on other sites More sharing options...
MisFit Kid Posted December 21, 2021 Report Share Posted December 21, 2021 there goes that plan another jam the close Link to comment Share on other sites More sharing options...
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