DrStool Posted January 25, 2022 Report Share Posted January 25, 2022 It's 5 AM in New York. Do you know where your ES S&P fugutures are? Well, after pulling back overnight, they're back to attacking, and as I write, slightly breaking, one of the many downtrend channels that have contained it for the past two weeks. The question now is whether they can sustain and extend this tiny breakout. I think the number to watch now is 4400. Because, as I told you before, whoa, you can't do that. If they doodoo it, then the next benchmark target, and another potential launchpad would be 4418. If they fail to clear 4400, it would be just another high, and the sellers would come storming back. Then we watch what would happens as the pullback attacks the bottom of an incipient uptrend channel, most likely around 4460 in the mid morning to mid day in NY. I thought it would be interesting to look at an hourly chart of the 10 year yield. Thing of beauty, it is. Obviously, if it clear 1.81, it will go back to test the high. After that, the sky's the limit. I thought I'd go the other way in Crapto World, looking at the Buttcoin Long Squeeze Out from a monthly bar perspective. Obvious strong support around 30k, 28k, 23k, 17k, 3200, 1200, 200, and 2 dollah. Looking at the very long term oscillators just rolling over, I suspect that this will be a long and winding road. Breaking the first support level at the neckline of this top pattern around 28,000 would have a measured move implication of negative 5,000. I don't think it will get that low. There will be strong support at zero. Looking at gold on an hourly basis, it's an untradeable shitmess. But when you zoom out a bit, you get the sense that something might be happening. Accumulation? I will post an update of the weekly gold and precious metals stock outlook and chart picks tomorrow at Liquidity Trader. You can try that service risk free for 90 days if you've never subscribed. Finally, my US doodahs are looking good for buying more gyros over here in Gyroland. Next week I'll be changing over to croques messieurs. If the euro breaks $1.12 the next target would be $109.50. Here's the daily bar view. And now (Paul Harvey voice) the rest of the story: Our Chart Pick List Was Short Up the Wazoo, Woohoo! Now What? Pop Goes the Bubble Gold Positioned To Pop Fed Will Administer Volckera to Cure Inflation Pandemic, and We’ll All Die If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter. Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2022 Author Report Share Posted January 25, 2022 I'm on the lookout for the Three Legged Humbledump Pattern. Need to clear 4392 to abrogate that. Link to comment Share on other sites More sharing options...
Jorma Posted January 25, 2022 Report Share Posted January 25, 2022 If I was any more bearish I'd be hibernating, in which case I wouldn't wake up until early March. Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2022 Author Report Share Posted January 25, 2022 Link to comment Share on other sites More sharing options...
potatohead Posted January 25, 2022 Report Share Posted January 25, 2022 yields are rising with the market falling.....oh Fuuuu$ Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2022 Author Report Share Posted January 25, 2022 57 minutes ago, potatohead said: yields are rising with the market falling.....oh Fuuuu$ Treasury is issuing $156 billion in new paper between today and Feb 1. Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 25, 2022 Report Share Posted January 25, 2022 same time as yesterday....... same bat channel? >: there are those 1 minute - 5 minute rip jobs higher Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2022 Author Report Share Posted January 25, 2022 Almost bullish here. Gotta get across that railroad track at the switch. Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 25, 2022 Report Share Posted January 25, 2022 Herbert is laughing even harder today...... He Will report tommorrow...... Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2022 Author Report Share Posted January 25, 2022 Breakout. Next stop 4424 Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 25, 2022 Report Share Posted January 25, 2022 was there really any doubt..... another afternoon verticle. Herbert is busting a gut, laughing..... Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 25, 2022 Report Share Posted January 25, 2022 Groundhog day..... Another big long tail for that daily groundhog...... Link to comment Share on other sites More sharing options...
Jimi Posted January 25, 2022 Report Share Posted January 25, 2022 3 hours ago, DrStool said: Which one of these guys is Herbert? Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2022 Author Report Share Posted January 25, 2022 Wild the ride pony. Link to comment Share on other sites More sharing options...
MisFit Kid Posted January 25, 2022 Report Share Posted January 25, 2022 23 minutes ago, Jimi said: Which one of these guys is Herbert? in honour/courtesy of Sven Henrich. Herbert is laughing...... Link to comment Share on other sites More sharing options...
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