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DrStool

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Everything posted by DrStool

  1. Completed top pattern measures to 5507. 5 day cycle projection 5510-15.
  2. Today I am visiting Munich's Alte Pinakothek, a great Museum of 18th and 19th century European art. Meanwhile, yesterday's action in the Dow was a world-class paint job. The ES is attempting a recovery this morning. To generate anything meaningful it will need to clear 5615. Otherwise we have a new downtrend channel to work with. THE SKY IS THE LIMIT
  3. From your mouth to God's ear. Oh wait. Somebody shot it off.
  4. Wait... The S&P is down 1.25% and the Dow is up .25%. Well that's baseball. There's always something new. How in the hell...
  5. What happens in yesterday, stays in yesterday. In the pre market this morning, 3 days of gains have been wiped out, and the 5 day cycle projection points to 5485. If this breaks 5605, the conventional measured move target would be 5455. What's it all about, Alfie? I don't see a raison du jour yet. Holding the Averages Versus Picking Swing Trades Meanwhile, here's the great mystery of the 10 year yield sliding toward 4.10. I've come to the conclusion that the answer lies in the fact that coupon issuance has been light in July, and T-bills are effectively money. Picking Up Nickels in Front of a Steamroller I'll be posting moron this, this afternoon in your parlance, tonight in mine, as I wrap up my visit to the interesting city of Munich Germany. For moron the markets, see: CURRENT REPORTS Gold Takes the High Road July 17, 2024 Swing Trade Screen Picks – Holding the Averages Versus Picking Swing Trades July 14, 2024 Higher for Longer July 14, 2024 Picking Up Nickels in Front of a Steamroller July 9, 2024 Gold Raises the Bar 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.
  6. Treasury announced another $25 billion in net T-bill issuance for next week. The first $25 billion settlement was today. Not even a hiccup.
  7. July has seen heavy T-bill issuance but light coupon issuance. The T-bills haven't phased the market one iota. I guess that T-bill buyers are using the carry trade to fund long term Treasury purchases. Today, that trade has reached an inflection point. Picking Up Nickels in Front of a Steamroller
  8. The hourly chart of the ES has that launchpad look again. It needs to close below 5622 today for us to even start thinking about a reversal. Meanwhile, there's a 5 day cycle projection of 5695. There may be some resistance at 5655 and 5667. Higher for Longer Yesterday the market absorbed a light $31 billion in new Treasury coupon issuance. Over the balance of the week it will get hit with 43 billion in new T-bills. That cuts both ways. Buyers must pay for them, but they are perfect collateral and therefore can be immediately lent in return for cash with a minimal haircut. Therefore, what happens next depends not on the Fed, or Treasury supply, but on how the market feels about it. Picking Up Nickels in Front of a Steamroller For moron the markets, see: CURRENT REPORTS Swing Trade Screen Picks – Holding the Averages Versus Picking Swing Trades July 14, 2024 Higher for Longer July 14, 2024 Picking Up Nickels in Front of a Steamroller July 9, 2024 Gold Raises the Bar 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.
  9. Welcome to Liechtenstein. I've always wanted to say that.
  10. Just passed Lugano Switzerland! Absolutely gorgeous! 2-3 day cycle projection 5670 to 5680.
  11. Another travel day as I head for Munich today. Meanwhile everything is normal. Nothing to see here move along. If the ES stays above 5608 today then the trend remains up. For moron the markets, see: CURRENT REPORTS Swing Trade Screen Picks – Holding the Averages Versus Picking Swing Trades July 14, 2024 Higher for Longer July 14, 2024 Picking Up Nickels in Front of a Steamroller July 9, 2024 Gold Raises the Bar 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.
  12. Those of you who were around in 2016 remember my posts warning about the threat that Trump posed. I predicted that he would attempt a coup and he did. It almost worked then, and it most certainly will work if he's elected again. The Trump "family" will rule America for generations to come. That's all I have to say about it. Everyone can now go back to sticking their heads in the sand and hoping it won't be as bad as you sense it could be.
  13. Crazy people with easy access to guns do shit like this every day in America. America is a pro gun nation, remember? There's only one political party that opposes this shit.
  14. Trump had people around him then to stop him from his most nefarious impulses, but he was still able to tear babies from their mothers and put them in cages. There will be no saner heads to stop him this time. He will put loyalists in charge of all critical functions. The Supreme Court just gave him carte blanche to commit crimes with impunity. And he will. He has already said he'll arrest his political opponents. Put troops in the streets. Round people up and put them in internment camps. Read Project 2025. That's his manifesto. He intends to carry it out. Who will protest when he does? And what will happen to those who do. This is your worst nightmare. Barring the American people waking up to defend democracy, it's coming. Those who cannot remember the past are condemned to repeat it.
  15. Putin acts on the threats. Trump loves him, and Orban. I have been to Hungary. The whole country is an organized crime ring. The ordinary people have all become professional bagmen. I've never been in a more sullen, crooked place. I have lived in Poland. I got to know quite a few Poles and their families. They despise the Russians. The Poles hate the Germans, but they absolutely loathe the Russians. Even the Polish right wing, that was just voted out of power, hates the Russians. They know them better than anyone. Considering that the Russians are having trouble in Ukraine, the Poles would absolutely skewer them. But if the flow of US weapons is cut off to these countries, they will die. Putin will advance. France, Germany, and the UK will stand alone as functioning democracies with nukes. If Trump wins, the America that we knew, like it or not, will cease to exist and the world will become an even grimmer place, much, much grimmer, than it has been in our lifetimes. Ciao and bonne weekend.
  16. He said, Buy when there's blood in the streets, especially if it's your own.
  17. Stock market must be celebrating the approaching official end of democracy in America.
  18. I'm in the Old Town center of Genoa, Italy and I'm going to check it out.
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