DrStool Posted January 11, 2022 Report Share Posted January 11, 2022 Ugh. Here we go again. Is this the beginning of the Rigor Mortis Rally I warned about? That V bottom on the hourly of the ES S&P futures ended up forming a reverse head and shoulders pattern that was completed in the wee hours this morning. The measured move implication is 4770. The 5 day cycle projection so far looks to be a range of 4730-50. The market is currently in a meltup channel. The bottom of the channel is at 4685 as of 6 AM in New York. It rises to 4700 as of the NY open. At the same time, it faces resistance from there all the way up to 4726. A shallow pullback from that area would portend another upthrust late in the day. Meanwhile, bears are a long way from gaining control. For starters, they'd need to break the meltup channel. Then they would need to take out a key support level. Hourly oscillators are still very bullish, so I don't want to speculate on that until there's an inkling of a turn. Meanwhile, the big picture. No Mercy Don’t Be Surprised, or Fooled, By a Rigor Mortis Rally Breakout Under Way! When Boring Isn’t Bullish – Gold Wheels Are Moving in Slow Motion for the Top 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 January 11, 2022 Author Report Share Posted January 11, 2022 Step 1, Break the meltup channel. Check. Link to comment Share on other sites More sharing options...
DrStool Posted January 11, 2022 Author Report Share Posted January 11, 2022 Highly Technical Update Alert Link to comment Share on other sites More sharing options...
DrStool Posted January 11, 2022 Author Report Share Posted January 11, 2022 WOOOOOWSA!!!😱 Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 11, 2022 Report Share Posted January 11, 2022 The Jay Powell Congressional Confirmation Hearing Day........ Bring your wading boots..... Link to comment Share on other sites More sharing options...
DrStool Posted January 11, 2022 Author Report Share Posted January 11, 2022 So now the bears need to take out 4642. Otherwise, they got nada. Link to comment Share on other sites More sharing options...
Mkucstars Posted January 11, 2022 Report Share Posted January 11, 2022 Da Bears? I don't think they made the playoffs. Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 11, 2022 Report Share Posted January 11, 2022 Nada again.... looks like 4640 was the buy it all signal >: 15 minutes to fix all problems.....again....... Bears suck, maybe its A. Rodger's Fault...... Link to comment Share on other sites More sharing options...
Jimi Posted January 11, 2022 Report Share Posted January 11, 2022 22 minutes ago, MisFit Kid said: Nada again.... looks like 4640 was the buy it all signal >: 15 minutes to fix all problems.....again....... Bears suck, maybe its A. Rodger's Fault...... At least you won't have Nagy to kick around anymore. Nagy was the name of the Hungarian premier in 1956 who tried to establish Hungary's independence from the Soviet Union & the nascent Warsaw Pact. After the revolution was smashed, Nagy was tried & executed for treason. Fun times in Central Europe... fun times. Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 11, 2022 Report Share Posted January 11, 2022 2 hours ago, MisFit Kid said: The Jay Powell Congressional Confirmation Hearing Day........ Bring your wading boots..... Playing in the back ground of the congressional chamber.... Link to comment Share on other sites More sharing options...
DrStool Posted January 11, 2022 Author Report Share Posted January 11, 2022 If they're unable to defend 4702, it will get to 4725 instantly. Link to comment Share on other sites More sharing options...
DrStool Posted January 11, 2022 Author Report Share Posted January 11, 2022 3 Year Treasury Yield. Is there a trend? I don't see a trend. Do you see a trend? Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 11, 2022 Report Share Posted January 11, 2022 Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 11, 2022 Report Share Posted January 11, 2022 low in the morning...... rip it higher and keep it Walken'........ that is a lot of Cowbell Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 11, 2022 Report Share Posted January 11, 2022 W for Victory, too...... Link to comment Share on other sites More sharing options...
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