DrStool Posted June 1, 2022 Report Share Posted June 1, 2022 They've broken the back of the rally, but haven't resumed the downtrend yet. The ES 24 hour S&P fugutures are in suspended animation, waiting for the other shoe to drop. They have set up a trading range of 4105 to 4169 on the hourly chart within which, all movement will be meaningless. The bowel movements before the shitstorm, if you will. For the big picture: NEW Quantitative Tightening is Here, and the Effect Will Be Devastating June 1, 2022 A Great Week for Swing Trade Screen Picks May 31, 2022 Shot from Guns, This Market Looks Like Puffed Rice May 30, 2022 We Hold Our Gold Miners, Add Another May 24, 2022 Even Steven in This Week’s Swing Trade Screens May 23, 2022 Stocks Are Ahead of the Curve May 23, 2022 Dealer Positions Show It’s Not Getting Better and It Should Get Worse May 15, 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...
Jorma Posted June 1, 2022 Report Share Posted June 1, 2022 The Treasury Direct web site is down. I noticed it last night. How are we supposed to buy the Treasuries the Fed isn't buying anymore? Link to comment Share on other sites More sharing options...
sandy beach Posted June 1, 2022 Report Share Posted June 1, 2022 Well that was interesting... Link to comment Share on other sites More sharing options...
potatohead Posted June 1, 2022 Report Share Posted June 1, 2022 Talk about confusing. At this point I am reading that this rally is a bear market rally and will reverse back down at some point. Then the contrarians say this could be the beginning of a new rally based on the following: These are coming from longstanding newsletters. The buying surge over the past few sessions is reasonably comparable to March 2020. Multi-day reversals like we've seen over the past week have consistently preceded further gains. Other breadth indicators are showing historic surges. Fewer stocks are in trouble, a welcome change from recent weeks. Then you have the derivative of those contrarians saying we are going to see a blow off top and new highs. All the while the Fed is about to reverse the IV drip and suck liquidity out of the markets. Then you have the Yellen yesterday talking about how she did not expect any of this inflationary pressure.....Feels like we are flying by the seat of your pants Link to comment Share on other sites More sharing options...
DrStool Posted June 1, 2022 Author Report Share Posted June 1, 2022 I have been out. WTF did I miss? Link to comment Share on other sites More sharing options...
BurntOnce Posted June 1, 2022 Report Share Posted June 1, 2022 bbc news on the u.s. west drought is catastrophic. farms are shutting down, food shortages are expected within months. Link to comment Share on other sites More sharing options...
DrStool Posted June 1, 2022 Author Report Share Posted June 1, 2022 2 hours ago, potatohead said: Talk about confusing. At this point I am reading that this rally is a bear market rally and will reverse back down at some point. Then the contrarians say this could be the beginning of a new rally based on the following: These are coming from longstanding newsletters. The buying surge over the past few sessions is reasonably comparable to March 2020. Multi-day reversals like we've seen over the past week have consistently preceded further gains. Other breadth indicators are showing historic surges. Fewer stocks are in trouble, a welcome change from recent weeks. Then you have the derivative of those contrarians saying we are going to see a blow off top and new highs. All the while the Fed is about to reverse the IV drip and suck liquidity out of the markets. Then you have the Yellen yesterday talking about how she did not expect any of this inflationary pressure.....Feels like we are flying by the seat of your pants The Fed has a plan, and it will execute it until the market bitch slaps it again. Link to comment Share on other sites More sharing options...
DrStool Posted June 1, 2022 Author Report Share Posted June 1, 2022 The beach was nicely populated here on this June 1 weekday. Just another gorgeous day on the Cote d'Azur. Link to comment Share on other sites More sharing options...
DrStool Posted June 1, 2022 Author Report Share Posted June 1, 2022 Well now. It all makes perfect sense, doesn't it? Link to comment Share on other sites More sharing options...
DrStool Posted June 1, 2022 Author Report Share Posted June 1, 2022 Link to comment Share on other sites More sharing options...
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