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Happy Froth of July 7/1/22

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The last day of trading before a US holiday weekend is usually a day for the bulls to party. This one is set up no different, and here at 6:30 AM, the party organizers are setting up the tent, tables, and well stocked bar. The party goers are beginning to line up at 3785 on the ES, 24 hour S&P fuguetures. If they get past that, Party on Garth! Party on Wayne!

If they don't clear that level, storm clouds are gathering in the west that could blow the whole thing down. 

If they clear 3785, the next target is resistance around 3820-25. Then there's a big resistance zone around 3840-60. That would be the top of a base pattern that could slinghot the market higher next week if they got through there. 

But if those storm clouds send the would be partiers scurrying for shelter like the rats and roaches that they are, then we look toward 3745, as triangle pattern and trendline sport. Then we've got 3725, 3705, and 3690 as additional sport lines, before bears could really ram it home. 

If you ask me, the market will close at 3776 today. Those market makers have a sense of humor you know. It's also near the central tendency of the trading range since June 13. 

yg2ns


Those are your levels to watch today. Meanwhile, Happy Froth. Be careful with those fireworks. You don't want one to blow up in your hand. 

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The big mahoffs are already at the Hamptons, leaving the junior traders to man the fort and hold the line for the weekend. The question, who will lose their nerve before the 3 day weekend, at the end of the day. Longs or shorts? 

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Short squeeze in the 10 year. 

Liquidity Trader- Money Trends

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Gift, if you're long. Git out. 

Liquidity Trader- Money Trends

How Fed and Treasury policy, Primary Dealers, real time Federal tax collections, foreign central banks, US banking system, and other factors that affect market liquidity, interact to drive the financial markets. Focus on trend direction of US bonds and stocks. Resulting market strategy and tactical ideas. 4-5 in depth reports each month. Click here to subscribe. 90 day risk free trial!

 

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20 minutes ago, DrStool said:

Short squeeze in the 10 year. 

Liquidity Trader- Money Trends

How Fed and Treasury policy, Primary Dealers, real time Federal tax collections, foreign central banks, US banking system, and other factors that affect market liquidity, interact to drive the financial markets. Focus on trend direction of US bonds and stocks. Resulting market strategy and tactical ideas. 4-5 in depth reports each month. Click here to subscribe. 90 day risk free trial!

You are talking about price, not yield. Not that someone gets that wrong. 😉

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1 hour ago, DrStool said:

Gift, if you're long. Git out. 

Liquidity Trader- Money Trends

How Fed and Treasury policy, Primary Dealers, real time Federal tax collections, foreign central banks, US banking system, and other factors that affect market liquidity, interact to drive the financial markets. Focus on trend direction of US bonds and stocks. Resulting market strategy and tactical ideas. 4-5 in depth reports each month. Click here to subscribe. 90 day risk free trial!

 

You called the top in TLT. Remarkable.

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Just now, Jimi said:

Euro still playing "Tease" with parity prospect.

Seems like only earlier this week, it had a 1.06 handle.

Now down to 1.03 handle... or close to it.

 

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