DrStool Posted January 24, 2022 Report Share Posted January 24, 2022 Here on the eve of rectumification, I will start with this bit of well deserved self congratulations, which is as opposed to my usual self flagellation. Our Chart Pick List Was Short Up the Wazoo, Woohoo! Now What? At 6:30 AM in New York, early rising traders are already lost the plot on the short covering rally that arose out of Asia this morning. They've broken sport at Friday's low of 4395. We are looking at a 5 day cycle projection of around 4325. But shorts like to cover when round numbers break, so I suspect that we'll see 4300. For the sake of posteriority, I present to you the 5 hour bars on the ES. As you can see, 4325 is a real sport level. And so is 4275. If you want the big picture, go here and try it out for 90 days risk free. There I give you the sport and resistance levels, trend indicators and price projections for cycles ranging from 4 weeks to 4 years or more. Over on the planet Crapton, we see the Buttcoin boys squeezing them out with tremendous regularity and force. Cycle projections have plunged. Lest we forget that the conventional measured move price target of the top pattern breakdown is around 14,000. But if they break 28,900, that would complete an even bigger top, with a price target of negative 8,000. Butt all kidding aside, don't worry! BTC has really strong support at 3200, 1200, and 200. Meanwhile, over in Fixed Income and Carry Trade Worlds, Treasuries are rallying on a flight to safety, aka fist off, trade. Oh my gawd, is that going to end badly. Big update on Primary Dealer condition coming later today. In Goldbuggery, we wait to find out whether we'll be safe or sorry. Update on that coming tomorrow. And as for the Your Row, Americans like me, living in Europe and earning their living in US Doodahs, might, MIGHT I SAY, have a decent hedge working against the horrendous inflation raising the cost of bread and circuses over here. And cake. Let's not forget cake. Which we can always eat. And now (Paul Harvey voice) the rest of the story: Pop Goes the Bubble Gold Positioned To Pop Fed Will Administer Volckera to Cure Inflation Pandemic, and We’ll All Die 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...
Jimbo Posted January 24, 2022 Report Share Posted January 24, 2022 ANOTHER DAY IN BOND BAGERHOLDERSVILLE The next few years are going to be bad for bonds. Higher inflation and higher rates. Its not going to be pretty. Not pretty at all. Link to comment Share on other sites More sharing options...
DrStool Posted January 24, 2022 Author Report Share Posted January 24, 2022 What if we've been in an up phase from Thursday afternoon until now? Link to comment Share on other sites More sharing options...
DrStool Posted January 24, 2022 Author Report Share Posted January 24, 2022 The 5 day cycle projection is now 4235. Link to comment Share on other sites More sharing options...
Jimi Posted January 24, 2022 Report Share Posted January 24, 2022 1 hour ago, DrStool said: What if we've been in an up phase from Thursday afternoon until now? Link to comment Share on other sites More sharing options...
DrStool Posted January 24, 2022 Author Report Share Posted January 24, 2022 3 hours ago, DrStool said: We are looking at a 5 day cycle projection of around 4325. But shorts like to cover when round numbers break, so I suspect that we'll see 4300. That. Link to comment Share on other sites More sharing options...
DrStool Posted January 24, 2022 Author Report Share Posted January 24, 2022 5 day cycle projection range 4280-4195. Could be anywhere in that range. Done or not done. Idunno. Link to comment Share on other sites More sharing options...
DrStool Posted January 24, 2022 Author Report Share Posted January 24, 2022 That 4275 area is a helluva sport level. But if they don't clear 4337 and 4375, they got nothin, I tell ya. NUTTHIN! Link to comment Share on other sites More sharing options...
DrStool Posted January 24, 2022 Author Report Share Posted January 24, 2022 Doin a little assreamin over at the twitterer. https://twitter.com/Lee_Adler/with_replies Link to comment Share on other sites More sharing options...
Jimi Posted January 24, 2022 Report Share Posted January 24, 2022 3 hours ago, DrStool said: The 5 day cycle projection is now 4235. 5 days sure ain't proving the length of time it used to be. Link to comment Share on other sites More sharing options...
sandy beach Posted January 24, 2022 Report Share Posted January 24, 2022 Did I miss anything? Treasury note yields continue to drop daily on the Micro Futures market. Traders refuse to believe that yields have to go up. 2 year down 1.24%, 5 year down 1.27%, 10 year down 1.70% and 30 year down 1.3% so far today. Link to comment Share on other sites More sharing options...
Jimi Posted January 24, 2022 Report Share Posted January 24, 2022 "I think we're going to need new projections." Link to comment Share on other sites More sharing options...
sandy beach Posted January 24, 2022 Report Share Posted January 24, 2022 The daily chart just broke through the bottom of my T.V. screen. I'm going out to buy a bigger T.V. Link to comment Share on other sites More sharing options...
sandy beach Posted January 24, 2022 Report Share Posted January 24, 2022 A retest coming of 666 on the S&P? Link to comment Share on other sites More sharing options...
potatohead Posted January 24, 2022 Report Share Posted January 24, 2022 buying the dip over the last 2 weeks..... Link to comment Share on other sites More sharing options...
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