DrStool Posted May 11, 2022 Report Share Posted May 11, 2022 A bottom. Not THE bottom. But how big a bottom? Meh, not that big. If the ES 24 hour S&P futures futures clear 4050, then we'd be looking at 4070 pdq. There are three resistance lines converging around 4070-75, so the odds don't favor clearing that. But if the do clear it this afternoon, then we'll see some giddyap. Conversely, a rollover below 4060 should have them testing the low very quickly, and possibly breaking down. Especially if there's a weak bounce off the test of the low. Also, always remember that the Round Number Magnetron should be a powerful attractor in both directions. If you're serious about the underlying forces of supply and demand that drive the markets, join me! 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. For the big picture: Buys Beat Shorts in This Week’s Swing Trade Screens May 9, 2022 Big Tops Lead to Big, Bad Bear Markets May 8, 2022 April Tax Collections Still Running Red Hot Mean That Fed Must Get Tighter May 4, 2022 Time to Catch Gold Knives May 3, 2022 The Fed is Tightening Into a Sheet Storm May 2, 2022 Link to comment Share on other sites More sharing options...
DrStool Posted May 11, 2022 Author Report Share Posted May 11, 2022 Initial reaction. Because I told you before, oh, you can't do that. Link to comment Share on other sites More sharing options...
DrStool Posted May 11, 2022 Author Report Share Posted May 11, 2022 Every time they cross 4000, the poles reverse. Link to comment Share on other sites More sharing options...
DrStool Posted May 11, 2022 Author Report Share Posted May 11, 2022 3% magnetron on the 10 year. Link to comment Share on other sites More sharing options...
Jorma Posted May 11, 2022 Report Share Posted May 11, 2022 You've been missing out on wall to wall Brady and Curry commercials touting CoinDesk. https://www.coindesk.com/price/bitcoin/ Link to comment Share on other sites More sharing options...
Jimi Posted May 11, 2022 Report Share Posted May 11, 2022 Is the Dow carving out an intraday H&S? Link to comment Share on other sites More sharing options...
Jorma Posted May 11, 2022 Report Share Posted May 11, 2022 It was 80 degrees at midnight in Michigan last night. It's never 80 at midnight in Michigan. It's rarely ever 80 in Michigan in May at all. Adding to the feeling that things just seem, off. Link to comment Share on other sites More sharing options...
No Einstein Posted May 11, 2022 Report Share Posted May 11, 2022 4 minutes ago, Jorma said: It was 80 degrees at midnight in Michigan last night. It's never 80 at midnight in Michigan. It's rarely ever 80 in Michigan in May at all. Adding to the feeling that things just seem, off. very weird indeed as it was 59 last night in Montgomery alabama (lower case intended) ... Link to comment Share on other sites More sharing options...
MisFit Kid Posted May 11, 2022 Report Share Posted May 11, 2022 record high temps for D/FW Tx. all week and next, too......possible 100 next week....in May my mom's pool felt like middle of summer warm..... Link to comment Share on other sites More sharing options...
Jorma Posted May 11, 2022 Report Share Posted May 11, 2022 Things never fall apart in May. Link to comment Share on other sites More sharing options...
DrStool Posted May 11, 2022 Author Report Share Posted May 11, 2022 Check out the 5 hour bars on this. Epic, relentless lower highs and lower lows. Illustrating Rule Number Two. The trend is your friend. Not to mention Number 1, Don't fight the Fed. All you need to do is follow Rule Number One and Rule Number Two comes easy. Link to comment Share on other sites More sharing options...
Jimi Posted May 11, 2022 Report Share Posted May 11, 2022 "Does this 29-handle make my thighs look fat?" - Bitcoin Link to comment Share on other sites More sharing options...
DrStool Posted May 11, 2022 Author Report Share Posted May 11, 2022 sport lines now 3940, 3935, 3925. Short covering sport. If it goes, kiss did mofo gbye. Link to comment Share on other sites More sharing options...
Jorma Posted May 11, 2022 Report Share Posted May 11, 2022 I've got things to do because summer is here but I am stuck watching the end of Western civilization. Link to comment Share on other sites More sharing options...
DrStool Posted May 11, 2022 Author Report Share Posted May 11, 2022 17 minutes ago, Jimi said: "Does this 29-handle make my thighs look fat?" - Bitcoin Link to comment Share on other sites More sharing options...
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