DrStool

The last two days are giving me motion sickness.

The number they need to beat for a base breakout is 5492.4.

on 2-3 day cycle basis I'm getting 5495-5500

4 day basis cycle projection 5497. That's right shoppers, get your stocks now at a 1% discount in aisle 4.

So big surprise selloff wasn't a surprise at all. I just missed the margin call news. I used to be on the CME margin call notification list. Don't know what happened but I never got the memo. Boo. Joke's on me.

Knock knock knockin on heaven's door.

Another $16 billion in T-bill issuance announced yesterday. T-bills cut both ways, but the $76 billion in coupons settling next week do not. Meanwhile the RRP slush fund saw withdrawals yesterday, on the issuance of $16 billion in T-bills. The drawdown actually exceeded the amount of bill issuance.The total outstanding remains rangebound however. The sit tight mentality seems to be entrenched. They nibbled on coupons with the extra $6 billion withdrawn from the RRP slush funda. All signs that the party really is over for stocks. End Stage Hysteria Breaks

Oh, my money! How can I lose thee? Let me count the ways. End Stage Hysteria Breaks The stock market seems to be growing increasingly random, with increasing frequency and amplitude. However, despite the wild fucktuations, the trend, for now, is still down. The angle of the dangle may change but barring an hourly close above 5493 today, the trend will remain down. In fact, the 5 day cycle has been in an up phase since early yesterday, and the market has yet to make a higher high amidst the wild swings. The immediate challenge as of 6 AM in New York, is to break a downtrend line at 5448. Failing that, another sharp plunge would be likely. If they do get through that, then the next move should be an attempt to get back to 5493. First the ES would need to clear trend resistance in the 5465-75 range. The 5 day cycle would ideally top out next Tuesday. If nothing happens on the upside before that, another mini crash leg could be dead ahead. For moron the markets, see: Gold Breakout Failure Signals Big Trouble July 25, 2024 End Stage Hysteria Breaks July 24, 2024 Swing Trade Screen Picks – Short-term Cancer Culture July 22, 2024 Politics and Markets Make Strange Bedfellows July 21, 2024 The Sky’s the Limit July 18, 2024 Picking Up Nickels in Front of a Steamroller July 9, 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.

Oh, that which I did not expect actually did not happen. It was just a fleeting figment of imagination.

I was not expecting this. That's for sure.

Thanks Bob! 😊

Let's look at the two hour bars to keep this in perspective. End Stage Hysteria Breaks

Corrections are so rare anymore that when they happen it feels like the end of the world. But what if it really is the end of the world. Then what do you do? Go short? For what. We'll all be dead. Just sayin.