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CONsolidation CONtinues 8/3/22

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Do I know which way this will break today?

Hell no. 

Look at the trend of the past 3 days in the ES S&P 24 hour fugutures. Look at the hourly oscillators. All perfectly neutral. We'll just have to wait and see if they break 4078 or 4144.

A rollover in the lower half of the range could give the bears the edge. 

tvc_43b253aadd1bf885f54dd2831915b4fe.png

Meanwhile, the 10 year yield the past two days has begun to expose the lies that the US economy is on the verge of recession, that inflation is at its peak, and that the Fed is near the end of its tightening.  

Treasury Confirms Supply Tsunami We Expected – Will Obliterate Everything August 3, 2022

tvc_c9fa72583d0a7bf3b5dac2dfb609d7be.png

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15 minutes ago, Jorma said:

It's looking a little shaky on my August end of QT guess but September, October, November are just too obvious. 

Oct I‘d say. Sep swoon dive and Nov would be too late. On Thanksgiving the upside steamroller must already working since a few weeks…

Maybe we get a double bottom at 3650, maybe not even that.

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2 hours ago, potatohead said:

Lee what is your take on the rising failures to deliver in the Treasury repo market the last week? Sign of tight liquidity conditions?

I'm not well versed in that. I have to think about the mechanics involved. at first blush it sounds like somebody is borrowing against collateral they don't have. 

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12 minutes ago, fxfox said:

Price action looks like climbing the wall of worry. Many disbelievers, too many bears.

No one seems bearish on AAPL or the miracle of "Infinite Growth Stocks".

But above all, there is no belief in higher interest rates or QT by central banks......

 

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trying to look at this on my cell phone the 5-day cycle projection looks like 4195 or so.. about the same measuring objective as the high base breakout. 

 

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1 minute ago, DrStool said:

trying to look at this on my cell phone the 5-day cycle projection looks like 4195 or so.. about the same measuring objective as the high base breakout. 

 

So the last 3 months on the SPX is a "do over".......

 

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I can't draw on my phone but this looks like the top of the channel right here. there should be some resistance. You have a shot at a reversal here maybe not a great one but a shot is better than no shot. 😊

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It was a scam alert From Charles Schwab, Crypto and "digital assets".......

Schwab is here/there to protect......

>: they are also doing their own Crypto ETF (But no mention) and

no mention of any other types of Scams being pushed around.....(or the CB's/SEC)

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Schwab Logo Here

 

Stay alert for investment scams involving cryptocurrency

At Schwab, we’re committed to helping you protect your assets. One way we do that is by raising awareness of the increase in fraudulent investment schemes (“scams”) involving cryptocurrencies and digital assets. While investing involves taking some risks, being scammed shouldn’t be one of them.

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