No pundit ever needs to be wrong in this business. You just have to know how to make predictions. If you know how to do that, then you can be right 100% of the time.
Thing about Joe. He was often wrong, but never in doubt.
And truthfully, I learned a lot from him.
I still use OBV as one input for my stock screens and picks.
What do earnings have to do with the stock market?
Absolutely nothing!
What do interest rates have to do with the stock market?
Absolutely nothing!
What does the economy have to do with the stock market?
Absolutely nothing!
What does the stock market have to do with the stock market?
Absolutely nothing!
Yesterday, no one correctly identified our mystery guest, so we will have new contestants attempt it today, on What's My Line, with John Daly, Dorothy Kilgallen (corrected, not kilogallon), Bennet Cerf, Arlene Francis, and Steve Allen.
New gold update coming later this morning but first, Back to the Gold Old Days 4/9/24.
Also posted a warning yesterday, Incoming! Little bears, get under your desks and cover your heads with your arms.
Warning Signs Abound, But Ignore Them for Now
As for the here and now, the bottom is in, he will see you now. By the way, in France when it's time to see the doctor, he just pops out and comes for you. And they are always on time. Like the trains.
OK, not the trains all the time.
The ES, 24 hour S&P futures suggest at least a 5 day cycle low, but the up phase hasn't gotten off the ground and we don't know if it will. Looks like a nice base for a rally, but they might decide to just chop and slop and then break down. Key level is 5080 on the top of the range to get something going all the way to the next resistance level of 5093 woopdedoo. Next one above that would be 5110.
Looking down, there's a spport line at 5033. Break that and they could plunge all the way to 5028 where there's some old spport. And then all the way to 5000 where lower channel descending spport comes in around 2:30 turn time. No More Downside
The hourly cycle oscillators are bullish but only approaching zero from below. A little push up today would get those into positive territory which would suggest acceleration. On the other hand, stall and rollover from this level, and shorting might be in order.
For moron the markets, see:
Warning Signs Abound, But Ignore Them for Now April 16, 2024
Swing Trade Screen Picks – List Shrinks With Good Profits April 15, 2024
No More Downside April 15, 2024
Back to the Gold Old Days 4/9/24 April 9, 2024
March Withholding Tax Collections Actually Stunk April 5, 2024
Banking Data Says This Is Last Hurrah for Stocks April 3, 2024
The End Is Not Nigh March 26, 2024
Markets Create Money, Money Talks, Markets Listen Etc. March 12, 2024
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 folder.
"What's My Line, with John Daly, Bennet Cerf, Arlene Francis, Steve Allen and Kitty Kilgallen "
That was Kitty Carlisle but she was on To Tell the Truth. It was Dorothy Kilgallen who was on What's My Line.
Tomorrow we can cover Gisele MacKenzie and Anna Maria Alberghetti. Unless you want to delve into Kilgallen's odd link in Kennedy assassination theories.
Trivia: Although he pronounced the little known (at the time) island of Oahu as “O-ha-u”, John Daly was the first radio broadcaster to break the news of the Pearl Harbor attack to the nation.
Another dawn. But is it another false dawn, this market rally morning?
The ES 24 hour S&P futures have rebounded from the bottom of a downtrend channel. It didn't get as low as very short term cycle projections suggested that it would. Hourly cycle oscillators have shifted to the buy side. And the timing isn't bad in terms of normal very short term daily cycles. Those cycles haven't been normal lately, so anything goes, but this one lines up in most ways.
The first test of stickability will be a signal trigger line pair at 5080-90 in the NY pre-opening hour, and 5075-85 in the opening half hour. That projects down to 5065-75 at noon. If they can clear that, they should be on their way higher. The first target would be 5110.
If they can't clear it, the bottom would probably drop out.
Warning Signs Abound, But Ignore Them for Now
LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS APRIL 16, 2024
That’s because they’re early, and an intervening temporary force should drive xxxx xxxx xxxxx.
Non-subscribers, click here for access.
Subscribers, click here to download the report.
The warning signs from the Fed’s weekly real time balance sheet data and slightly lagged data on the condition of the US banking system continued last week. The market has acted badly, but this isn’t likely “IT” yet. Non-subscribers, click here for access.
xxxxxxxxxxxxxxx began in early April, and they will continue to xxxxxxxxxxx xxxxxxxxxxxx the markets for the next 4 weeks or so. Most of that xxxxx will be coming over the next two weeks. As a result, any additional market decline from here is likely to be xxxxxxxxxx. Non-subscribers, click here for access.
Timing that will be tricky and a matter for technical analysis. My technical work has suggested that ideally a 6-month cycle low is due xxxxxx xxxx xxxxxx. A couple of weeks on either side of that would be normal, so we need to be alert, as illustrated in Monday’s Technical Trader report. Non-subscribers, click here for access.
We can expect a bigger selloff once the Treasury starts borrowing again, on balance, probably around the xxxxxxxxxxxxxx, and especially when the Fed’s RRP facility is effectively out of cash, which isn’t likely until xxxxxxxxx. Non-subscribers, click here for access.
Meanwhile, let’s run through the charts and data so that you can see the logic behind this conclusion. First a review of how this conclusion has evolved over the past couple of months. Non-subscribers, click here for access.
KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality!
For moron the markets, see:
Warning Signs Abound, But Ignore Them for Now April 16, 2024
Swing Trade Screen Picks – List Shrinks With Good Profits April 15, 2024
No More Downside April 15, 2024
Back to the Gold Old Days 4/9/24 April 9, 2024
March Withholding Tax Collections Actually Stunk April 5, 2024
Banking Data Says This Is Last Hurrah for Stocks April 3, 2024
The End Is Not Nigh March 26, 2024
Markets Create Money, Money Talks, Markets Listen Etc. March 12, 2024
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 folder.
whats the reason for drop? It was so nice for bulls. even too nice.
Good todays retail sales print? too hot numbers, or maybe a dictator at ME said something.