DrStool Posted June 24, 2022 Report Share Posted June 24, 2022 Here at the Stool we focus on the intraday and very short term cyclical trading patterns. I confine my longer term analysis to the Technical Trader reports. But the stock market has built a formidable looking potential base pattern over the past two weeks, that could have implications for more than just the next couple of days. Looking at the 24 hour ES S&P 500 fuguetures this morning just before 6 AM in New York, the numbers to watch are 3832, and then 3838. Clearing those should give the market enough thrust to zoom higher all the way to 3855-60. ... OK, I keed. That would be the first resistance level. If that's cleared then there would probably be enough ooomph to get to the trend resistance convergence around 3925 or so, if not today, then Monday or Tuesday. The conventional measured move target of a breakout of this still to be confirmed base would be around 4000-4010. Now, that assumes a breakout. What if this rally dies right here, and doesn't clear 3832? Well, then we'd look to the first sport level for a target for the first pullback. That would be around 3785 at the time New York opens for regular trading. That would only be a start for the bears. If they don't get through that, this potential base pattern gets to drag things out for a while longer as we wait for the panicked short covering to trigger that breakout. Once that short covering is exhausted, bears get the ball again. Follow how pre-determined and known liquidity flows drive stock and bond prices here . I will show you and tell you exactly how the major forces of macro liquidity move not just the bond market, but stocks as well. Liquidity analysis sets the context for technical analysis. It helps us to narrow the focus of our chart reading to the outcomes that are most likely, given the circumstances. To better understand the big picture right now so that you can take the correct action when the time is right, check out the following: We Knew QT Would Be Devastating, But You Ain’t Seen Nothing Yet June 21, 2022 Is There Life on Mars, or in the Precious Metals? June 22, 2022 Swing Trade Screens – Tank Gawt We’re Not a Long-Only Entity, Poor Bastids June 20, 2022 Watch Out For a V Bottom June 19, 2022 Gold Stares Into the Abyss and Doesn’t Like What It Sees June 14, 2022 Dealers Assume the Position, as 75 BPs Coming Wednesday June 13, 2022 The US Economy, Including Jobs, Collapsed in May June 2, 2022 Quantitative Tightening is Here, and the Effect Will Be Devastating June 1, 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...
Jimi Posted June 24, 2022 Report Share Posted June 24, 2022 Link to comment Share on other sites More sharing options...
fxfox Posted June 24, 2022 Report Share Posted June 24, 2022 Were those Home Sales numbers cooked? Link to comment Share on other sites More sharing options...
DrStool Posted June 24, 2022 Author Report Share Posted June 24, 2022 You were warned!😄 Link to comment Share on other sites More sharing options...
DrStool Posted June 24, 2022 Author Report Share Posted June 24, 2022 meanwhile back at the Frech Riviera, Link to comment Share on other sites More sharing options...
fxfox Posted June 24, 2022 Report Share Posted June 24, 2022 6 minutes ago, DrStool said: You were warned!😄 In which Report was that? You offer so many 😉 Link to comment Share on other sites More sharing options...
fxfox Posted June 24, 2022 Report Share Posted June 24, 2022 5 minutes ago, DrStool said: meanwhile back at the Frech Riviera, Very nice! btw, have you attended a game of OGC Nice? I would recommend to go to a game against Marseille 😎 Link to comment Share on other sites More sharing options...
DrStool Posted June 24, 2022 Author Report Share Posted June 24, 2022 1 hour ago, fxfox said: In which Report was that? You offer so many 😉 This morning in this thread. Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 24, 2022 Report Share Posted June 24, 2022 https://www.investing.com/indices/indices-futures How is it even remotely possible that every "Free Market" in the World is GREEN and ended its day at/near its high......... Does anyone want to guess? Link to comment Share on other sites More sharing options...
fxfox Posted June 24, 2022 Report Share Posted June 24, 2022 3 minutes ago, MisFit Kid said: https://www.investing.com/indices/indices-futures How is it even remotely possible that every "Free Market" in the World is GREEN and ended its day at/near its high......... Does anyone want to guess? Concerted CB action? 😉 Link to comment Share on other sites More sharing options...
Jimi Posted June 24, 2022 Report Share Posted June 24, 2022 4 hours ago, DrStool said: You were warned!😄 Despite that, I think I'm still gonna hurl. 🤮 Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 24, 2022 Report Share Posted June 24, 2022 6 minutes ago, fxfox said: Concerted CB action? 😉 So much for QE / Tightening.....eh.......BOJ is having none of that....... Concerted and perverted ........ >: Lucy Bronze with a goal for England (vs Holland)......⚽ Link to comment Share on other sites More sharing options...
fxfox Posted June 24, 2022 Report Share Posted June 24, 2022 5 minutes ago, MisFit Kid said: So much for QE / Tightening.....eh.......BOJ is having none of that....... Concerted and perverted ........ >: Lucy Bronze with a goal for England (vs Holland)......⚽ The Japanese better watch out that their JGB‘s don‘t blow up. 😂✌🏻 Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 24, 2022 Report Share Posted June 24, 2022 6 minutes ago, fxfox said: The Japanese better watch out that their JGB‘s don‘t blow up. 😂✌🏻 At this point, do they really care...... >: looks like the World-Wide plan...... >:: and Today must be a World-Wide "Miracle" Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 24, 2022 Report Share Posted June 24, 2022 Does anyone even dare question if this is Rigged? what a crime........ Link to comment Share on other sites More sharing options...
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