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What the Hell is Going On Here 1/13/22

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I'm talking about the EUR/USD.

Wow. Beautiful breakout. Not what your US earning, European living correspondent wants to see. 

Hopefully, just a bear market rally return to the scene of the crime. A normal retracement to the breakdown area of 1.16. Hopefully. Because I ain't hedged for much more than that. 

tvc_680f6a7cb6430f583ff0894e36e22b82.png

 

Now on to our usual day trading the S&P stuff. 

The 5 day cycle is in a down phase but moving sideways, which is usually a bullish setup. It needs to break below 4716 and then 4710 for it to be a bendover pattern. AKA the Gym Jordan Sandusky pattern. Failing that, I remind you that the conventional measured move target of the breakout from the bottom pattern is 4830.

tvc_38bb8741c19d359be621accd71416849.png

 And now, without further adoodoo, I bid you  a plus tard. I go to the French Embassy about a km from my apartment to pick up my long term stay visa for France. I'm leaving Warsaw at the end of the month to head for what I plan to be permanent residence in Nice, France! From there, warm weather travel only! 😊

Chowski!

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I have my French long stay visa and residence permit in hand.

I'm a resident.

I'm a legal resident,

An American in Nice France. 

Now, I gotta book a flight. Jan 31. 

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3 hours ago, DrStool said:

It needs to break below 4716 and then 4710 for it to be a bendover pattern. AKA the Gym Jordan Sandusky pattern.

Still valid. 

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After a T-bill paydown of $41 billion today, net new issuance upcoming over the next week totals $97 billion, on top of $39 billion in coupon issuance. 

Now, that's around January 15. 

What happens on Jan 15 (17 this year)? 

That's right, estimated taxes are due and the Treasury gets a big fat tax collection bulge that usually enables it to pay down some debt for a few weeks, goosing the markets. 

Not now.  

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