DrStool Posted July 12, 2022 Report Share Posted July 12, 2022 Well, today is the first day of the rest of my life. Come to think of it, it's the first day of the rest of your life too. What a coincidence! So, what are you going to do with it? Something good, I hope. For me it's a milestone. Today I closed on my apartment in Nice. In France they call it the final compromis, I think. Something like that. Anyway, it means that I own my apartment. Uh oh! What do I do now? Renovations. Always something to look forward to. Meanwhile, the US stock market is in desperate need of renovation. In fact, it's falling down, and is likely beyond the state of needing renovation. It needs to be demolished and rebuilt from scratch. It did some demo overnight. We left with a 5 day cycle projection of 3830 on the hourly ES, 24 hour S&P fuguetures. They did that overnight. Now the 5 day cycle projection is 3815. Got to 3818 so far. Close enough for gummit work. But wait, maybe there's more! 3825 might be a sport level. But if not, then we're looking at 3805. 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: Advantage Bulls, But It’s Over If This One Thing Happens This Week July 9, 2022. Recession? What Recession? July 5, 2022 For Swing Trades this Week, It’s Politics As Unusual July 5, 2022 Gold’s Worst Projections Are Happening July 6, 2022 Stocks Are Even More “Dover Sole” Versus Liquidity June 28, 2022 We Knew QT Would Be Devastating, But You Ain’t Seen Nothing Yet June 21, 2022 Dealers Assume the Position, as 75 BPs Coming Wednesday June 13, 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 July 12, 2022 Author Report Share Posted July 12, 2022 The Euro has landed. Well, everybody said that the euro was headed to parity with the dollar. This morning, the goal was reached. Never let it be said that the majority is always wrong. The majority is usually right for longer than most contrarians like. Why do you think there are so few investment contrarians, and why are they so rarely successful? Because it pays to run with the herd until it doesn't. In other words, Rule Number Two: The trend is your friend. Until it isn't. As a liquidity and technical anal cyst, my job is to observe and notice when the trend is changing. In that regard, parity on the EUR/USD isn't the end of the game. The trend remains your friend, except in the very very short term. In the past hour the EUR/USD hit a low of 1.000. That's also the area of a couple of sport trendlnes on the daily chart. And daily cycle oscillators are at the level where they've bottomed 5 times in the past year. No doubt the trading algos will kick in here. Let the short covering begin. This could be gradual at first. It would not surprise to see the EUR sink to .996 before viciously reversing. The rally should be sharp, but limited. There's no resistance until 1.035 now. But that will sink to 1.03 next week. One caveat. If .996 gives way, the next targets would be .99 and .975. Ouch. Link to comment Share on other sites More sharing options...
DrStool Posted July 12, 2022 Author Report Share Posted July 12, 2022 The curve is leaving the Fed in the dust. Not only is it behind on inflation, it's behind on hiking Fed Funds to keep pace with rubber stamping the market. To anyone paying attention, the Fed looks like a bunch of clowns, trying to keep pace with the candy assembly line. Trying to keep up with the candy line as it speeds up- 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 More sharing options...
DrStool Posted July 12, 2022 Author Report Share Posted July 12, 2022 Space needle bar. Link to comment Share on other sites More sharing options...
Jimi Posted July 12, 2022 Report Share Posted July 12, 2022 Congrats on your close, Doc. Link to comment Share on other sites More sharing options...
DrStool Posted July 12, 2022 Author Report Share Posted July 12, 2022 zzzzzzzzzzzzzzz zzzzzzzzzzzzzz zzzzzzzzzzzzzzz Link to comment Share on other sites More sharing options...
DrStool Posted July 12, 2022 Author Report Share Posted July 12, 2022 37 minutes ago, Jimi said: Congrats on your close, Doc. Much ass grassy ass. Link to comment Share on other sites More sharing options...
BurntOnce Posted July 12, 2022 Report Share Posted July 12, 2022 commercial insurance rates are increasing 10% yoy - mostly from disasters, fires, global warming. is that a lot? Link to comment Share on other sites More sharing options...
MisFit Kid Posted July 12, 2022 Report Share Posted July 12, 2022 8 hours ago, DrStool said: Meanwhile, the US stock market is in desperate need of renovation. In fact, it's falling down, and is likely beyond the state of needing renovation. Yeah, but what a great view.......and Location? Link to comment Share on other sites More sharing options...
Jimi Posted July 12, 2022 Report Share Posted July 12, 2022 WTF was that?! Link to comment Share on other sites More sharing options...
MisFit Kid Posted July 12, 2022 Report Share Posted July 12, 2022 Everyone Jumping Ship? Someone(s) get CPI Data? Link to comment Share on other sites More sharing options...
MisFit Kid Posted July 12, 2022 Report Share Posted July 12, 2022 27 minutes ago, Jimi said: WTF was that?! AAPL dumped $3 quickly MR Softee really dumped..........(It was green But dropping all day) Symbol MSFT LastQuoteHelp 252.09 Change -12.42 (-4.7%) High 265.94 Link to comment Share on other sites More sharing options...
MisFit Kid Posted July 12, 2022 Report Share Posted July 12, 2022 Massive sell program......from ZH...... Link to comment Share on other sites More sharing options...
fxfox Posted July 12, 2022 Report Share Posted July 12, 2022 Once this all is set and done, Bitcoin will be in ashes. CB‘s have to do it to save the money printing monopoly of the state. Bitcoin guys will get prosecuted and sent to prison. Media will call them crypto-nazis and they will reply like Buckley to Vidal: That pseudo ultra-Oxford-style british upper class accent of Buckley cracks me up every time. 😂✌🏻 Link to comment Share on other sites More sharing options...
MisFit Kid Posted July 12, 2022 Report Share Posted July 12, 2022 5 minutes ago, fxfox said: That pseudo ultra-Oxford-style british upper class accent of Buckley cracks me up every time. 😂✌🏻 I get satisfaction of three kinds. One is creating something, one is being paid for it and one is the feeling that I haven't just been sitting on my ass all afternoon. Quote William F. Buckley, Jr. >: he has a bunch of "intellect quotes" Link to comment Share on other sites More sharing options...
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