DrStool Posted July 13, 2022 Report Share Posted July 13, 2022 More Bad News Ahead for the Golden Boys Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 Meanwhile, stocks are set up in a maximum indecision pattern, smack in the middle of their range of the past 3 weeks. They're waiting for the bad news on CPI, which everyone knows will be bad. So it should all be "priced in," right? Wall Street loves that term. It needs jargon like that to create stories to sell its wares. But like most of what Wall Street says, it's absolute bullshit. The market doesn't "price in." The market as a whole is a measure of systemic liquidity as reflected in the price trend. Nothing more, nothing less. If you want to believe the nonsense about the market being a discounting mechanism, be my guest. But it sure won't help you trade. Focusing on the price patterns on the charts will. So for today, we wait and see what the newsnoise reaction will be. Then, one way or another, the market will get back to tracking the trend of liquidity. Here's the hourly look on the 24 hour ES S&P fuguetures. Perfect equilibrium. Everything is priced in right? Well, if the initial knee jerk is up, they need to end an hour, any hour, above 3840 to have any chance to extend the rally back to the trend resistance area around 3870. Otherwise we're going lower today. How much lower? I'd look for those sport lines around 3790 for starters. 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: More Bad News Ahead for the Golden Boys July 13, 2022 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 13, 2022 Author Report Share Posted July 13, 2022 No reaction. Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 Trends rule. Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 That's some candle. Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 BTC inflation hedge hourly chart. Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 Apparently the ECB says it is likely to ban Bitcoin. Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 The 13 week bill rate has risen 70 bp starting since one week after the Fed raised the FF target in mid June. Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 Subdued reaction in the 10 year. But it's going higher. Are the Fed and Treasury Geniuses, or Just Lucky? Part One Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 V bottom time. Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 More like a test tube bottom. Link to comment Share on other sites More sharing options...
MisFit Kid Posted July 13, 2022 Report Share Posted July 13, 2022 On Q opening bell buying....... I guess it all goes Green.......Nothing To SEE Here......again The FED still has them's back >: TNX above 3, will that even stick regardless of the phony CPI "print" of only 9 >:: SPX @3780, which "20" hits next? Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 3750-60 is a multi sport area. Link to comment Share on other sites More sharing options...
potatohead Posted July 13, 2022 Report Share Posted July 13, 2022 29 minutes ago, DrStool said: More like a test tube bottom. or perhaps a bell bottom? Link to comment Share on other sites More sharing options...
DrStool Posted July 13, 2022 Author Report Share Posted July 13, 2022 5 day cycle projection 3770 was overcooked. Link to comment Share on other sites More sharing options...
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