DrStool

Hourly close above 4491 would measure to 4520-25

Payday.

That's the way it looks on the hourly chart of the ES, 24 hour S&P futures, at 5:20 AM ET. The key number is 4483. If cleared by an hourly close, the downtrend would be broken. Yes, in an hour or two, it might not stay broken, especially given recent history. But you gotta start somewhar. If such a breakout were to occur, the conventional measured move target would be around 4510. And that would be another base breakout with a target of 4565. One step at a time. First they gotta break out. If they don't break out, but roll over instead, then there's initial vulnerability to around 4465. A weak bounce could then lead to a breakdown. But until something happens, nothing has happened yet, and nothing will happen. For this inside information, you pay the big bucks. 😂 Market Needs a Pop Now Meanwhile, if they don't get the 10 Year Treasury yield under 4.22, look for it to go much higher. Here’s Why This Stuck Market Is Not Surprising For moron the markets, see: Gold Teeters Toward Disaster September 13, 2023 Here’s Why This Stuck Market Is Not Surprising September 13, 2023 Reset Week Leaves List Uncomfortable September 11, 2023 Market Needs a Pop Now September 11, 2023 Beware! Jobs Really Much Weaker Than They Say September 4, 2023 Here’s Why This Is a No Clickbait Market for Primary Dealers August 24, 2023 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.

Breakdance.

Responded by email. 😊

Methinks I doth spaketh too sooneth.

Ah. Reverse jinx. My luck is improving.

Another stall. The range narrows.

You should see my personal port. I loaded up over the past 3 days. What the hell. Life is short, but I am long.

Still needed to break the downtrend, which remains intact.

CPI doesn't measure inflation. Nor does it measure consumer prices. It's just a completely phony construct for the purpose of suppressing the automatically indexed increases in labor contracts, and government benefits, salaries, and contracts. Sometimes it bites them in the ass.

The inflation report is meaningless. The housing inflation data is wrong, as always. And it's the biggest component.

Could we get an early 5 day cycle low here on the ES, 24 hour S&P futures. A merged 3 day and 5 day cycle expressed as a 4 day period is neither rare, nor unusual. This could be it, here at 5:30 AM ET. Or maybe not. The key would be an hourly close above 4465. That could trigger more buying and the onset of a 5 day cycle up phase. On the other hand a drop below 4450 could open the flood gates. All the way down to 4440, or even 4438, god for bid. Market Needs a Pop Now Meanwhile, over in the land of Bond, the 10 year yield looks ready to blow the roof off. Here’s Why This Stuck Market Is Not Surprising You want to talk boring. Gold. They keep boring for it, and coming up empty. Is this a key juncture. Or what. Gold Teeters Toward Disaster For moron the markets, see: Gold Teeters Toward Disaster September 13, 2023 Here’s Why This Stuck Market Is Not Surprising September 13, 2023 Reset Week Leaves List Uncomfortable September 11, 2023 Market Needs a Pop Now September 11, 2023 Beware! Jobs Really Much Weaker Than They Say September 4, 2023 Here’s Why This Is a No Clickbait Market for Primary Dealers August 24, 2023 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.

2-3 day cycle projection 4443. Chop chop.

Gonna go git me some dinner. Will post a Liquidity Trader report when I gits back.

😄😄😄

Whack-a-mole.

A recipe for going nowhere fast.

3 day cycle low, but should be running against a 5 day cycle up phase.

Bears have a toehold.

Back to spport. Will this one hold? The level to watch on the ES 24 hour S&P futures is around 4475 as of the New York open. If they can manage to break that with authoritah, the next stop should be 4465, or even 4460, heaven forbid. In other words, there are multiple spport levels every 10 points or so that make a big break somewhat less than likely. On the other hand, a 5 day cycle low isn't due for another 2 days. On the other other hand, a 3 day cycle low is due today. Lots of reasons here to lack any conviction whatsoever. That said, if the ES is above 4480 after lunch, they should make a run at the yet unmet 5 day cycle projection of 4500. That's also the measured move target of yesterday's little base breakout. I am working on a Liquidity Trader update that I hope to post this afternoon. Stay tooned. Meanwhile, even the 10 year yield has gone into an inconclusive short term pattern while the yield uptrend stays intact. Beware! Jobs Really Much Weaker Than They Say For moron the markets, see: Reset Week Leaves List Uncomfortable September 11, 2023 Market Needs a Pop Now September 11, 2023 Beware! Jobs Really Much Weaker Than They Say September 4, 2023 Here’s Why This Is a No Clickbait Market for Primary Dealers August 24, 2023 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.

5 day cycle projection is still 4500.

Congratulations!