DrStool

Where she stops, nobody knows. There's been no follow through on Friday's selloff this morning. Yet. A 2-3 day cycle projection of 4450 was hit. A 5 day cycle projection of 4425 is still out there. And there's no 5 day cycle buy signals on the hourly oscillators yet. A couple of up hours would trigger, but for now, the downside risk is still active. 4446.1 is the number that they need to break on the ES, 24 hour S&P futures to really get rolling on the downside. That would open up a massive move to the next spport level of 4440. Or fight. On the other hand, if they hold above 4447 this morning, and then break out above 4460, the target would then be resistance indicated around 4480-85. If they get through that the top of the range around would beckon. Shape of the 6-month Cycle Bottom Meanwhile, watch that 10 year yield. It has edged out to a new high this morning, after absorbing a monstrous coupon settlement on Friday. There's more supply where that came from, so guess which way this is headed, regardless of what happens over the next couple of days. Here’s Why This Stuck Market Is Not Surprising For moron the markets, see: Shape of the 6-month Cycle Bottom September 17, 2023 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 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.

Correction. They did NOT make a new low. Missed by 0.3.

New low vs. the last minor low is now a bearish setup.

It's good to be home. It's shitty to see a good day's profit wiped out. But that's the mock it. I'll wait till the weekend to see if anything broke, or if the dealers were just shaking the trees.

Kaboom.

Well, not a nice greeting to come home to.

Schwang.

Today the market embarks for its destination, the where which we know not. I, on the other hand, am headed home after an amazing 4 months of travel across the Old World. From Paris to Warsaw to Budapest and Prague, Berlin, Copenhagen, and Oslo, I have seen a bunch of great capitals and cities and towns of all sizes. A total of 31 towns in all, not including brief stopovers like Cologne and Basel. What a journey. But later this afternoon, shortly after the market opens in New York, I should be back home in Nice. Halleleujah! Shana Tova! Sell Rosh, Buy Yom. Actually, I hope not because I'm long up the wazoo, in violation of our religious Law of the Bearish People. May Lord Ursa forgive me, for I am a sinner! The stock market meanwhile has been on a journey to nowhere, but at least the swings have been big enough to be tradable. Had a nice payday yesterday as a result and hope to not give it all back today. The market gods aren't giving us many clues this morning. Yesterday's rally has paused. A 5 day cycle 4 day variant high is due this afternoon. A 5 day cycle projection of 4520-25 remains to be reached on the ES, 24 hour S&P futures. But a 4 day variant projection of 4515 has been. Either way, there's not much upside likely today. On the other hand, to get anything going on the downside would require an hourly close below 4505 for starters. Market Needs a Pop Now 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.

No, it's to be their, or not to be they're, there is the question.

2-3 day cycle projection already done at 4495. On a 4 day basis, it's 4515.

5 day cycle projection 4525.

Their car is there but they're not there.

It's they're.

It's they're.

Out for a stroll.

I see quiet misspelled like that all the time. Why. Another is the past tense of lead. It is led, not lead, as in read and read. What are some otters you can think of?

They heard me.

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.