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Today Could Be the Right Eyebrow for the Stock Market 3/25/22

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You see it on the 5 hour bar chart of the ES, S&P futures.  In each of the last 3 very short term tops, the market formed a right eyebrow and then drooped. The key level today is 4545. If it stays below that, this could devolve into the droopy pattern. But if it gets through 4545, the uptrend will be reaffirmed and it will be game over for bears, for the time being.

They've already broken the downtrend that began in early January, and established an uptrend. But that uptrend is extended in the very short term time frames we watch here. So bears at least have a shot. 

tvc_c48115ce92175b9ec6ebe54f0020089d.png

 

In order to execute that shot bears absolutely must see 4480 taken out. And that's just for starters. Barring that, the uptrend rules. 

tvc_4500139209609fcd38d0f342fc15fdf2.png

 

For the big picture. 

 

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19 hours ago, Jimi said:

Awesome!

You went with the old port rather than the Liberation district - cost & availability? 

We got yummy fish nearby from the fish pirates:

https://www.poissonnerielespirates.com/

Totally jealous.

 

Actually, it was my dream location. When I was in Nice in 2018-19, I spent many evenings strolling this little street, Rue Bonaparte and Place du Pin, having dinner in one of the sidewalk restos, thinking how cool it would be to live there. 

There's no availability anywhere. Every apartment I wanted to see was sold before I had a chance to look at it. When this one came on line, I walked to the listing office, asked to see it, and made an offer on the spot.  

It's a perfect place for me, but I will need to remodel. Take down two walls, move the kitchen, new appliances, new flooring, but the "toilette" is perfect, nice tile job probably within the last 15 years. 

 

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Les Pirates is opposite the rear of the building where I lived at the Port in 2018-19. That side was Blv Stalingrad, and the front was right on Port Lympia. Great pizza place next door, Les Amoureux. Won best Neapolitan Pizza in France. No reservations, no takeout, no phone orders. You just go, get in line, and wait. 

It was good, but to be honest, almost all Neapolitan pizza is good. 😁

On Rue Bonaparte, around the corner from my new place, there's a street food place, Tartine et Galinette that had some of the best NY style pizza anywhere. €6 for a whole pizza Margherita. His other baked specialties and rotisserie chicken are similarly delicious and cheap. Good for a quick bite when I'm in a hurry and don't want to cook at home.

But unfortunately, I don't eat refined carbs at all anymore. I need to find a pizza place that has a whole grain crust on the menu. May not be possible. 😭😄

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17 hours ago, DrStool said:

I will amend that to 4525. 

  

17 hours ago, DrStool said:

I will amend that to 4525. 

I should quit while I'm a head.  

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UNCLE WARREN AND THE BIG OXY COMMON BUY

So Uncle Warren has bought a lot of Oxy.

A stock I recomended months ago.

Why????????

Well beside the oil price there is a very high J number on this stock

The J number (which I invented) quantifies in a mathematical way the wealth transfer from lenders to borrowers (i.e the common shareholders) due to inflation.

The FED is a monetary umpire. Unfortunately for Team Lender the FED is an umpire who now days only awards penalties to Team Borrower.

Thus making it very hard for team lender to ever win a game (note I think they won a few games back in the early 1930's but thats about it).

Anyway the J number is 30B debt plus 8B in preference shares multiplied by CPI. 

Or about $4 Billion a year that is being transfered to the borrowers (the common shareholders) from the lenders.

So to get his $800 million back per annum (his preference share dividend which has been swallowed by inflation), Uncle Warren has to buy about 20% of Oxy.

Should be fairly easy now he can exercise the warrants.

I think thats his plan.   

 

Also you should note that inflation is driving Uncle Warren to use his cash pile.  

Inflation is a tax on cash and its become too expensive to hang on to.

So he will spend it on stocks.

 

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It's like watching paint dry this morning(hopefully, the calm before a storm)...and I can't stop thinking about Pizza!

That's the only comment I really have this morning.  Other than...as I type, it appears as though were finishing up the fifth wave in the DJI off the March 8th low.  The symmetry is looking pretty close to complete.  BTC touched 45k on the Russia news.  Gold, well...I mentioned my views on the gold stocks yesterday.

I don't think many people follow astronomical events much anymore.  I still keep that arrow in my quiver.  We had a Black Moon on January 31st going into February 1st which isn't all that rare, but when you couple that with another Black Moon on March 31st going into April 1st AND another Black Moon combined with a partial solar eclipse on April 30th going into May 1st...well...that's something I've never seen before.  Triple Black Moons.

Interesting enough to mention at least.

Perhaps next week things start to heat up. 

Until then...did I just see a drip?

The CoinGuy

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Back down to the two line offset moving average.

This is known as the Jeff Gundlach Indicator, because it is double line. 

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