DrStool Posted May 16, 2022 Report Share Posted May 16, 2022 Running late today so I'll keep this short. We have an uptrend channel on the hourly ES S&P 500 24 hour fuguetures chart. As of 8 AM in NY, trend support is at 3990. As long as they hold above that, there's a shot at a higher high than Friday's. It would require clearing resistance at 4020. Then they could test Friday's high of 4042.9. On the other hand bears would be back in charge if they drop below 3990. Stay tuned for all the exciting action. Market Rebound Still Leaves Crash Risk Intact May 16, 2022 Dealer Positions Show It’s Not Getting Better and It Should Get Worse May 15, 2022 Catch a Falling Knife May 11, 2022 Gold Trader Publication Note May 10, 2022 Buys Beat Shorts in This Week’s Swing Trade Screens May 9, 2022 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. Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2022 Author Report Share Posted May 16, 2022 Close, but no see gar. Link to comment Share on other sites More sharing options...
potatohead Posted May 16, 2022 Report Share Posted May 16, 2022 Lee, I am sure you have an opinion on this one....please unleash.... Bernanke says the Fed’s slow response to inflation ‘was a mistake.....coming from the guy who made QE a household name... https://www.cnbc.com/2022/05/16/bernanke-says-the-feds-slow-response-to-inflation-was-a-mistake.html?__source=sharebar|twitter&par=sharebar Link to comment Share on other sites More sharing options...
MisFit Kid Posted May 16, 2022 Report Share Posted May 16, 2022 Many bad words to describe Bernanke, but this one is for starters...... Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2022 Author Report Share Posted May 16, 2022 1 hour ago, potatohead said: Lee, I am sure you have an opinion on this one....please unleash.... Bernanke says the Fed’s slow response to inflation ‘was a mistake.....coming from the guy who made QE a household name... https://www.cnbc.com/2022/05/16/bernanke-says-the-feds-slow-response-to-inflation-was-a-mistake.html?__source=sharebar|twitter&par=sharebar Bernanke is evil. Pure evil. The Adolf Eichmann of central banking. The Street reveres the guy. That's all you need to know. Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2022 Author Report Share Posted May 16, 2022 5 day cycle projection 4100. Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2022 Author Report Share Posted May 16, 2022 If the take out 4069.50, it will make a fearsome looking bottom that will suck everybody in. Everybody. Ferocious short covering, and bulls will pile on. Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2022 Author Report Share Posted May 16, 2022 IF Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2022 Author Report Share Posted May 16, 2022 The 13 week bill always shows the way. Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2022 Author Report Share Posted May 16, 2022 Breakout or die. Link to comment Share on other sites More sharing options...
Jimi Posted May 16, 2022 Report Share Posted May 16, 2022 41 minutes ago, DrStool said: Breakout or die. Are you calling for a vote? Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2022 Author Report Share Posted May 16, 2022 I don't even have a vote. I'm an American. Link to comment Share on other sites More sharing options...
MisFit Kid Posted May 17, 2022 Report Share Posted May 17, 2022 would you look at that 4020 SPX after hours, all green...... that easy......... Link to comment Share on other sites More sharing options...
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