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Number Nine and Feelin' Fine 8/9/22


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Looking at the hourly chart of the 24 hour continuous ES S&P fuguetures, the question is whether we have another potential top in the making. It's too soon to tell. First they would need to drop to 4101.8. Then they would need to break it. Until that happens, nothing doodooing. 

We doo have at least the semblance of a downtrend channel in the making. Get it? Making? But if they clear 4146, that's the end of that. End. heehee. 

tvc_a78e307e1658e2d2378c4a7871f17123.png

Barring something breaking, we are doomed. Doomed, I say. To another day in this interminable, now 8 trading day old trading range. So this afternoon, I think I'll resume painting my apartment. That way I can watch paint dry. 

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The SOX was in late 2008 at 167. 

In early 2022 it was at 4068.

This shows the whole insanity of QE.

We are speaking about an already well known index back in 2008, with well known constituents, the whole world was dependend on Semis back in 2008 and so on and on…

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