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We Had Longs, Yay! But… 8/01/22

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I'll start today by featuring my swing trade screen picks. Last week could have been a blockbuster, but I had shorts along with the longs, and that killed that. Surprisingly, current screens then resulted in more shorts than longs. Here's the post.  Swing Trade Screens – We Had Longs, Yay! But…

I'll be back momentarily with the usual daily intraday chart update. 

To understand and profit from the big picture check out the following. 

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  • DrStool changed the title to We Had Longs, Yay! But… 8/01/22
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The ES, S&P 24 hour futures have been consolidating toward trend overnight and this morning. with the pre market just open in New York at 8:00 AM. The trendlines are currently clustered around 4105-4120. They move up to 4120-4140 at the end of regular trading hours today. The bears' task is to take that out. 

Failing that, the bulls would remain in charge. 

ynnyb

If they do manage to break trend support, they'd still need to break 4080 to create a reversal pattern.  

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Saw this over the weekend. Deer Point is a sharp guy, big into the macro picture.

https://twitter.com/deerpointmacro/status/1553426444600090628

 
Liquidity is starting to deteriorate, and a great insight into this is the Repo market. Failures to deliver (Bonds used as collateral in Repurchase agreements) have been elevated and are up 22% on a WoW basis. This is a sign of liquidity event brewing.
 
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6 minutes ago, MisFit Kid said:

On a lighter note......

2022 is the year of "Soylent Green".......🤔

Where is Heston when you need him......

>: And the fraudexes go green right before the Hour Of Powerll (Power? Powell?)

Colonel Poopwell. Where is he?

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