DrStool Posted November 18, 2022 Report Share Posted November 18, 2022 Well, my friends, our first little downtrend lasted all of two days. The ES 24 hour S&P futures have broken the line that defined the top of the channel here in the wee hours as of 5:30 AM ET, US. They have rallied to the previously broken neckline of the beautifully formed head and shoulders top. In technical analysis such rebounds are absolutely normal. They are known as the Return to the Scene of the Crime, and do not necessarily mean that the perp will be apprehended. We'll just have to wait and see. As I write, they've just cleared that line at 3955 and are already 11 points beyond. They're headed for the next potential trend resistance at 3980. They've also established a new minor uptrend channel. The top of that channel converges with a couple of resistance lines around 3980-83 in the 6-7 AM hour. Normally, such convergences are good places to look for pivots and pullbacks. However, if they clear that, I'd look for 4008. Click the links below for moron the markets. Golden Surprise November 15, 2022 The Repeal of Rule Number One, Don’t Fight the Fed November 14, 2022 Swing Trade Screen Picks – Few Good Longs, No Good Shorts November 14, 2022 Bond Market Rally is Technically Valid but Belies the Facts November 12, 2022 Bad News for the Markets – Not Just Withholding Boomed in October November 3, 2022 Surge in Withholding Tax Collections in October Indicates Faster Jobs Growth November 2, 2022 Bear Market Isn’t the Mirror of a Bull October 31, 2022 We Can Now Project When Fed Will Pause, But Not Reverse October 13, 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 November 18, 2022 Author Report Share Posted November 18, 2022 The battle is joined. Cycle oscillators are bullish. Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2022 Author Report Share Posted November 18, 2022 Breakout. Link to comment Share on other sites More sharing options...
fxfox Posted November 18, 2022 Report Share Posted November 18, 2022 Markets say that the CB‘s lie. in case of the ECB they are probably correct, in case of the FED? Hmm… not so sure. Link to comment Share on other sites More sharing options...
MisFit Kid Posted November 18, 2022 Report Share Posted November 18, 2022 xx80 nothing to see here Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2022 Author Report Share Posted November 18, 2022 Back in the Channel Again Link to comment Share on other sites More sharing options...
MisFit Kid Posted November 18, 2022 Report Share Posted November 18, 2022 37 minutes ago, DrStool said: Back in the Channel Again vive la France Link to comment Share on other sites More sharing options...
sandy beach Posted November 18, 2022 Report Share Posted November 18, 2022 Link to comment Share on other sites More sharing options...
Jorma Posted November 18, 2022 Report Share Posted November 18, 2022 I saw on a news ticker that Fartfetch missed in the 3rd quarter. After adjusting my glasses I realized it was Farfetch FTCH Link to comment Share on other sites More sharing options...
DrStool Posted November 18, 2022 Author Report Share Posted November 18, 2022 Waste of a good day. Chow, bun wee et bun chance. Link to comment Share on other sites More sharing options...
fxfox Posted November 18, 2022 Report Share Posted November 18, 2022 Nice weekly candle. Next week down and we have a textbook reversal. But more back and fourth action likely till The Lord speaks on Dec 14. Will the FED finally kill the animal spirits? Hard to say. They already achieved a few things: Sparks dead, NFTs done, Crapto finished, overhyped cash burning tech stocks finito… BUT: To really kill the animal spirits would mean that Tesla would fall another 60, 70, 80% from here. Will the FED sit aside and watch that happening? I have my doubts. Link to comment Share on other sites More sharing options...
Jimi Posted November 18, 2022 Report Share Posted November 18, 2022 Let's say... you're a stoner pot farmer in California. And you wanted a nice piece of property to pursue your gentleman yeoman activity. And, maybe a little farmhouse to go with it. But not any typical farmhouse... because you are a stoner pot farmer from California! You need "a crib" befitting your crop. So, you think, "Maybe an 'A Frame'?" But that's too... chic-Tahoe. "Maybe all glass & steel!" But that's too... cold industrial Bauhaus for the countryside. "A yurt! Gotta have a yurt, amirite?" No, you are stoned: yurts are not ideal as a primary structure. They're more apt quarters for drum circles and dogs. "Wow, man... this is a really hard quiz. Is it a tee-pee? Oh, I know - a 'grass' hut! Oh man, that's funny...." No... the answer the judges were looking for was, "geodesic dome." It's every stoner pot farmer's dream to live in a dome... because Buckminster Fuller is the patron saint of California stoners. ("His name is just so... groovy!") And luckily, today's farm possesses a dome-home and for only 7-figures! Quote 58+/- acre mountain farm fully licensed State and County (16k square feet canopy) with 850+/- 150-gallon smart pots. https://www.redfin.com/CA/Guerneville/2425-Pool-Ridge-Rd-95446/home/2425149 This has got to be the tidiest farm to-date. Look how much loving care went into spacing the rounds, and how conveniently they are located to the stony dome. Check out the interior photos of the dome structure. "But... there aren't any?" Curious, right? $1.35m and the listing agent hasn't provided a single shot of the inside. But we have plenty of drone-secured views at 500' elevation. My quick eyeball suggests there are 700-800 planting rounds gathered in tightly around the house. Assuming about a pound per plant yield, and, say, $750/lb, your annual harvest would generate ~$500K in revenue, if all goes well. Listing indicates the place transacted for $815K back in October 2014, after sitting on the market for a year after first being listed for $1.1m in October 2013. Link to comment Share on other sites More sharing options...
sandy beach Posted November 19, 2022 Report Share Posted November 19, 2022 4 hours ago, fxfox said: Nice weekly candle. Next week down and we have a textbook reversal. But more back and fourth action likely till The Lord speaks on Dec 14. Will the FED finally kill the animal spirits? Hard to say. They already achieved a few things: Sparks dead, NFTs done, Crapto finished, overhyped cash burning tech stocks finito… BUT: To really kill the animal spirits would mean that Tesla would fall another 60, 70, 80% from here. Will the FED sit aside and watch that happening? I have my doubts. The Fed needs to kill most of the US non-bank credit system. That's going to take a bit more. Link to comment Share on other sites More sharing options...
sandy beach Posted November 19, 2022 Report Share Posted November 19, 2022 4 hours ago, Jimi said: Let's say... you're a stoner pot farmer in California. And you wanted a nice piece of property to pursue your gentleman yeoman activity. And, maybe a little farmhouse to go with it. But not any typical farmhouse... because you are a stoner pot farmer from California! You need "a crib" befitting your crop. So, you think, "Maybe an 'A Frame'?" But that's too... chic-Tahoe. "Maybe all glass & steel!" But that's too... cold industrial Bauhaus for the countryside. "A yurt! Gotta have a yurt, amirite?" No, you are stoned: yurts are not ideal as a primary structure. They're more apt quarters for drum circles and dogs. "Wow, man... this is a really hard quiz. Is it a tee-pee? Oh, I know - a 'grass' hut! Oh man, that's funny...." No... the answer the judges were looking for was, "geodesic dome." It's every stoner pot farmer's dream to live in a dome... because Buckminster Fuller is the patron saint of California stoners. ("His name is just so... groovy!") And luckily, today's farm possesses a dome-home and for only 7-figures! https://www.redfin.com/CA/Guerneville/2425-Pool-Ridge-Rd-95446/home/2425149 This has got to be the tidiest farm to-date. Look how much loving care went into spacing the rounds, and how conveniently they are located to the stony dome. Check out the interior photos of the dome structure. "But... there aren't any?" Curious, right? $1.35m and the listing agent hasn't provided a single shot of the inside. But we have plenty of drone-secured views at 500' elevation. My quick eyeball suggests there are 700-800 planting rounds gathered in tightly around the house. Assuming about a pound per plant yield, and, say, $750/lb, your annual harvest would generate ~$500K in revenue, if all goes well. Listing indicates the place transacted for $815K back in October 2014, after sitting on the market for a year after first being listed for $1.1m in October 2013. I really love these posts! Link to comment Share on other sites More sharing options...
fxfox Posted November 19, 2022 Report Share Posted November 19, 2022 Link to comment Share on other sites More sharing options...
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