DrStool Posted September 6, 2022 Report Share Posted September 6, 2022 Welcome back, Stoolies! Time to get back to bidness. Seems this morning that all are waiting in trepidation for something. Bulls are terrified that Friday's double bottom will drop out. Bears are equally terrified that it will hold and trigger a massive short squeeze. The market isn't tipping its hand yet this morning after 3 hours of European trading. The euro crowd is waiting on the merkins to send smoke signals across the pond. Even the hourly oscillators are stuck on dead neutral. So we key on the resistance and sport levels. To get anything going on the upside at all, the boyz must drive the ES, S&P 500 24 hour futures, well clear of the first resistance area, 3961 - 3966. If they did that, they could pop to 4015 and set up a bigger bottom for a more sustained rally if they hold it together early this week. Sport levels to watch on the downside are 3928-3920, and 3910. Take those out and the ball could start bouncing down the steps. It probably wouldn't be straight down at first. Too many sport lines that would trigger short covering on the way. This is just the very short term stuff. For the big picture check out the posts below. Swing Trade Screens – 13 Picks, All Shorts, All Winners September 5, 2022 Technical Analysis Confirms the Brutality of Liquidity September 4, 2022 Withholding Tax Collections Collapsed in August But BLS Data Won’t Show It September 2, 2022 Swing Trade Screens – Good Week For Our Shorts Last Week, Adding More Now August 29, 2022 Freak Out Now Before It’s Too Late August 29, 2022 Warnings of August Liquidity Crash Come to Fruition – Here’s What to Do August 28, 2022 Gold Miners Swing Picks August 26, 2022 Has Rule Number One Been Repealed? August 18, 2022 “As Good as It Gets” Was Good While It Lasted August 6, 2022 Treasury Confirms Supply Tsunami We Expected – Will Obliterate Everything August 3, 2022 Withholding Tax Collections Solid in July, But Here’s Why the Party is Over August 2, 2022 The Bond Rally That Fooled The Majority And Didn’t Help Dealers July 27, 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...
Jorma Posted September 6, 2022 Report Share Posted September 6, 2022 Everyone is just relieved nothing blew up over the long weekend. Link to comment Share on other sites More sharing options...
sandy beach Posted September 6, 2022 Report Share Posted September 6, 2022 Well that blew up quickly. Link to comment Share on other sites More sharing options...
Jimi Posted September 6, 2022 Report Share Posted September 6, 2022 Just now, sandy beach said: Well that blew up quickly. Seriously. Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2022 Author Report Share Posted September 6, 2022 I am out and about in beautiful Lyon. please keep me posted on the latest developments The what's the wise and the wear fores. 😄👍😄. voice text! Link to comment Share on other sites More sharing options...
potatohead Posted September 6, 2022 Report Share Posted September 6, 2022 That wave of Treasury supply is finally making its mark. Link to comment Share on other sites More sharing options...
The CoinGuy Posted September 6, 2022 Report Share Posted September 6, 2022 SPX: Here is an updated copy of the "Canary in the Coal Mine" chart. From my perspective...once 3750 falls in the ^GSPC...then the decline BEGINS. Until then, you're still in the topping formation from the January 4th peak. Here is a convenient copy of the Twin Peaks Formation Reference Chart. Along with the updated Canary in the Coal Mine chart....here are two Companion Charts that take a closer look at PYPL and NFLX against the decline from the January peak in both the ^DJI and ^GSPC. Companion Chart 1a - ^DJI vs PYPL Companion Chart 1b - ^GSPC vs NFLX Finally...I'll post these two charts as "Food for Thought". More on both will be coming later... This bears watching... GLD: No comment other than watching 160. Although, from my own perspective...At this moment, I do believe the shares are taking it on the chin disproportionately(aka, leading the decline). Patiently waiting for...It. Best, TCG Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2022 Author Report Share Posted September 6, 2022 G's! I leave you guys for an hour and look what happens. Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2022 Author Report Share Posted September 6, 2022 Amazing how consistently behind the rate curve the Fed is. Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2022 Author Report Share Posted September 6, 2022 This is the 10 year yield hourly. Can anyone tell if this is a trend, and the exact moment it started? Wall Street works in strange and mysterious ways. Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2022 Author Report Share Posted September 6, 2022 Department of BTC Leads, 2 hour bar division. Link to comment Share on other sites More sharing options...
BartTheBear Posted September 6, 2022 Report Share Posted September 6, 2022 How long until the bulls run out of ammo defending SPX 3900? Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2022 Author Report Share Posted September 6, 2022 I have a 5 day cycle projection of 3795. Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2022 Author Report Share Posted September 6, 2022 57 minutes ago, DrStool said: I have a 5 day cycle projection of 3795. Revise to 3815. Link to comment Share on other sites More sharing options...
BartTheBear Posted September 6, 2022 Report Share Posted September 6, 2022 3 minutes ago, DrStool said: Revise to 3815. Roger that. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.