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Dropout 4/11/22

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Is that what this bottom is about to do? Hard to say. A 5 day cycle projection of 4450 on the ES S&P futures hourly chart is all but done. The chart looks set up for a bottom here. So if this low breaks, it's likely to lead to drama on the high seas. Or at least to a multiline convergence at 4443. That's not much drama. 

On the other hand, I'd say that they need to get this back above 4475 by the New York open, or bad things could happen at any time. 

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Primary Dealers and the biggest banks who own them have enormous hidden losses that aren’t showing up yet on bank earnings statements or balance sheets. As market conditions tighten in the second half of this year and margin calls beget losses, which beget more margin calls, those hidden losses will start to show up. 

Primary Dealers Still Long and Wrong, But A Gift Rally Looms! April 11, 2022

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