DrStool Posted July 21, 2022 Report Share Posted July 21, 2022 Today, I'm living and working in a construction site. Major renovations of the apartment that I closed on last week have begun. This morning a small crew came in, demolished two interior walls, removed upper kitchen cabinets, and did a few plumbing connection upgrades, and started cleanup of a ton of debris before lunch. After lunch they came back for 45 minutes removed the debris and left 30 minutes ago to haul it all to a landfill. It was really amazing to watch. These guys moved like lightening in a ballet of work that I could clearly see that they had done together as a team for years. I'm absolutely thrilled with what they accomplished on the first day. Meanwhile, something is under construction in the market. Is it the roof, or just another floor in a multistory building? In the very short term couple a day view that we take here on this forum, there's a 5 day cycle projection of 4030, so I guess this is just another floor in the new Towering Inferno. Maybe that move is just starting here at 8:22 AM New York Time. They gotta get through resistance at 3975 first. If they do, I think you can count on that 4030. 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: Catch a Falling Knife July 19, 2022 Survive the Meat Grinder and Market Will Gladly Pay Us Back on Tuesday July 18, 2022 Major Swing Cycles Align for an Up Phase July 18, 2022 As Good As it Gets, Before the End of Time July 18, 2022 Are the Fed and Treasury Geniuses, or Just Lucky? Part One July 12, 2022 Recession? What Recession? July 5, 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 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 21, 2022 Author Report Share Posted July 21, 2022 Sport trendlines 3937, 3928. Link to comment Share on other sites More sharing options...
fxfox Posted July 21, 2022 Report Share Posted July 21, 2022 That new TPI Programme from the ECB will be a liquidity boost, right? Basically they say, there will never ever be a default of any EUR-area state and when times get really tough they even gonna buy corporate bonds. Moral hazard, allez allez allez! Also there is no criteria mentioned which needs to be reached to then allow them to use the TPI Programme. They say something like „at times of economic stress“. Who defines that? What is economic stress? A downturn? A stagnation? Over which time period? Questions over questions…. Link to comment Share on other sites More sharing options...
Jorma Posted July 21, 2022 Report Share Posted July 21, 2022 If we can get this rally on a 9% CPI print imagine what it would do at 18%. Link to comment Share on other sites More sharing options...
sandy beach Posted July 21, 2022 Report Share Posted July 21, 2022 32 minutes ago, Jorma said: If we can get this rally on a 9% CPI print imagine what it would do at 18%. It'll rally 18% in nominal terms and 0% in real terms LOL Link to comment Share on other sites More sharing options...
DrStool Posted July 21, 2022 Author Report Share Posted July 21, 2022 Market's looking right plum tuckered out. Link to comment Share on other sites More sharing options...
Jorma Posted July 21, 2022 Report Share Posted July 21, 2022 2 hours ago, fxfox said: That new TPI Programme from the ECB will be a liquidity boost, right? Basically they say, there will never ever be a default of any EUR-area state and when times get really tough they even gonna buy corporate bonds. Moral hazard, allez allez allez! Also there is no criteria mentioned which needs to be reached to then allow them to use the TPI Programme. They say something like „at times of economic stress“. Who defines that? What is economic stress? A downturn? A stagnation? Over which time period? Questions over questions…. I don't know. The NY Times says 'the European Central Bank moves to reverse years of ultra-loose policy". (Why the hyphen, I don't know that either) Sounds like they are going to be tight to me. Right? One has to understand that the NY TImes is a friend of the Fed and nothing has shaped the narrow perceptions and broad misperceptions of the Fed and monetary policy more among non-conservatives than the NY Times. To this day if you criticize the Fed your marked as a member of the John Birch Society. Link to comment Share on other sites More sharing options...
DrStool Posted July 21, 2022 Author Report Share Posted July 21, 2022 38 minutes ago, DrStool said: Market's looking right plum tuckered out. WTF do I know. Link to comment Share on other sites More sharing options...
DrStool Posted July 21, 2022 Author Report Share Posted July 21, 2022 2-3 day cycle projection 4005-10. Link to comment Share on other sites More sharing options...
DrStool Posted July 21, 2022 Author Report Share Posted July 21, 2022 Call it 4010-20. Link to comment Share on other sites More sharing options...
Jimi Posted July 21, 2022 Report Share Posted July 21, 2022 7 minutes ago, DrStool said: WTF do I know. The signoff on my tombstone. Link to comment Share on other sites More sharing options...
fxfox Posted July 21, 2022 Report Share Posted July 21, 2022 41 minutes ago, Jorma said: I don't know. The NY Times says 'the European Central Bank moves to reverse years of ultra-loose policy". (Why the hyphen, I don't know that either) Sounds like they are going to be tight to me. Right? One has to understand that the NY TImes is a friend of the Fed and nothing has shaped the narrow perceptions and broad misperceptions of the Fed and monetary policy more among non-conservatives than the NY Times. To this day if you criticize the Fed your marked as a member of the John Birch Society. In Germany, when you criticise the ECB you are a cold hearted right-winger or even a „Nazi!“ Link to comment Share on other sites More sharing options...
fxfox Posted July 21, 2022 Report Share Posted July 21, 2022 Is Cathy Wood already dancing naked on Times Square? Link to comment Share on other sites More sharing options...
fxfox Posted July 21, 2022 Report Share Posted July 21, 2022 Snap drops a bomb in the afterlife. For those figures the CEO should be imprisoned. That‘s outright betrayel of shareholders. Link to comment Share on other sites More sharing options...
fxfox Posted July 21, 2022 Report Share Posted July 21, 2022 Anthony Scaramucci looks like Jordan Belfort. Coincidence? Scamamuchi… Link to comment Share on other sites More sharing options...
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