Jump to content

Bulls Hangin' In 7/11/22

Rate this topic


Recommended Posts

Today is 7-11 or doubles day. 

Just FYI. 

It's also a day where the bulls, if at first they don't succeed, try, try, try again.  This is unlike the bears who, when things aren't going their way, throw up their hands in despair and disgust, cover their shorts, spit over their shoulders, and walk away. 

Which, by the way, is the way I think it should be done. 

As for today, we have the makings of another uptrend channel on the ES, 24 hour S&P fuguetures hourly chart. 3860 has also been confirmed as a short term sport level. If it hold in the pre market, Monday should be an up day. 

Likewise, if the bulls try but fail to break 3890 on the upside, and then the thing rolls over and drops below 3860, the second half of the day could be all bear. 

image.png

That's how the intraday picture. For the longer view that concerns most of us, see Advantage Bulls, But It’s Over If This One Thing Happens This Week

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:

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

  • Replies 14
  • Created
  • Last Reply

Top Posters In This Topic

Meanwhile, the BTC boys have given up the ghost today. The ghost of a rally that is. They couldn't even get back to trend resistance at 22,000, let along clear it. Now they're threatening to break that critical sport level at 19k. But the big one is 17,600. If that gives way, Crash City, Babeeeeee! 

tvc_f096bfd5d77293c4b0c72962f9c5731b.png

We're now looking at a one year cycle projection of 9-12k. 

tvc_ce43b0e359e472e01961d3f02f2476f6.png

And the immutable long term conventional measured move target of 5000 below zero.

tvc_2c14a001250770a8a303d3ce78a163e9.png

 

Looking at bond yields, the 10 year has a projection of 3.26 on the hourly chart. For more on the big picture, see Recession? What Recession?

tvc_badf6366591facdc4cabf115dfe03996.png

Link to comment
Share on other sites

Parrot Tea

tvc_9e4dea95488d0a640f049f529411be3b.png

It's going lower. The conventional measured move implication on the weekly chart is $0.80-0.90. The pattern spanned 5 years, so don't expect this overnight. But the first half of next year would be a reasonable guess. 

tvc_1a563f809a9de195005c09fcf3b55199.png

On a monthly bar chart, the measured move implication also appears to be around 0.80.

tvc_1a563f809a9de195005c09fcf3b55199.png

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!

 

 

Link to comment
Share on other sites

26 minutes ago, sandy beach said:

Euro and Japanese Yen just getting crushed.

Dollar shortage. It will get worse as the Fed withdraws dollars from the system, until it stops and reverses, or until ECB and BoJ also start draining. 

Link to comment
Share on other sites

40 minutes ago, DrStool said:

Dollar shortage. It will get worse as the Fed withdraws dollars from the system, until it stops and reverses, or until ECB and BoJ also start draining. 

… and if more Oil will be traded in Non-USD currency, which will of course lead to more war. 

Link to comment
Share on other sites

Sooner or later the wheels will come off. It is simply too much to handle. Oil, war, inflation, threat of disintegration in Europe, Yen crisis, new block structure in the making and whatnot…

Link to comment
Share on other sites

52 minutes ago, fxfox said:

Sooner or later the wheels will come off. It is simply too much to handle. Oil, war, inflation, threat of disintegration in Europe, Yen crisis, new block structure in the making and whatnot…

All irrelevant. Only liquidity matters. It's tightening, and indeed, the wheels have been, and continue to be, coming off.  

 

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...