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DrStool

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  1. Feeling a little warm? You should. It's 5000 degrees out there. First, a little perspective. Here's a look at the 5 hour bars on the ES, 24 hour S&P futures going back to the October 27 low. Now, in terms of day trading only, because that's what we do here, what would you do today? Buy or sell short? Now let's zoom in to the 2 hour bars. Again, strictly on the basis of day trading, as of the NY open today, what would you rather do? Buy or sell short? Now, just looking at the usual 1 hour bars, in a vacuum, assuming you had not seen the first two charts, what would you prefer to do on the NY open? Buy or sell short? Interesting perspective, huh? For moron the markets, see: Is This the End, or Only the Beginning February 5, 2024 What’s Up with Down Withholding Tax Collections February 4, 2024 In the Goldrums February 2, 2024 Swing Trade Screen Picks – Clearing Out the Shorts January 30, 2024 Fed Balance Sheet Right Now Says Bears Should Get Ready to Rumble January 28, 2024 Primary Dealers Are Maxed Out Again January 24, 2024 US Economy Crashed in December – Nope, See Update January 3, 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.
  2. 2-3 day cycle projection 5005. Is This the End, or Only the Beginning
  3. Market has DTs coming into 8 AM NY premature ejaculation.
  4. Well, they managed to escape the triangle pattern a millisecond before reaching the trickle point. But it was still too near it to generate any power, so here we languish. The ES, 24 hour S&P futures are still stuck near the middle of the range of the past 3 days. However, since Monday there have been slightly higher highs and lows, so maybe that's bullish. I dunno. For now, anything between 4934 and 4963 is a nothingburger. Even when they break one or the other there wouldn't be a lot of running room. We're looking at 4918 and 4975 as the next sets of spport and resistance lines. Yawn. Swing Trade Screen Picks – Adding 3 Shorts for Each Long Meanwhile, every market from bitcoin to gold is like watching paint dry. Except for Treasuries. Pork bellies, anyone? What’s Up with Down Withholding Tax Collections For moron the markets, see: Is This the End, or Only the Beginning February 5, 2024 What’s Up with Down Withholding Tax Collections February 4, 2024 In the Goldrums February 2, 2024 Swing Trade Screen Picks – Clearing Out the Shorts January 30, 2024 Fed Balance Sheet Right Now Says Bears Should Get Ready to Rumble January 28, 2024 Primary Dealers Are Maxed Out Again January 24, 2024 US Economy Crashed in December – Nope, See Update January 3, 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.
  5. The market is triangulating. As of 7:30 AM ET, the ES 24 hour S&P futures are riding the lower line of the pattern at 4936, inching toward an apex of 4940 as of the NY close. The closer it gets to that point without breaking one way or the other, the less likely it becomes that anything will happen. Boring. But a break in the pre market could still generate some power, either way. We'll just have to wait and see. I don't see any tells here. Hourly cycle indicators aren't any help here. They're meandering near dead neutral. A 2-3 day cycle projection of 4915 was almost reached in yesterday's little selloff. So that's a non issue as well. Looks like a good day for a long nap. Is This the End, or Only the Beginning This looks interesting though. Assuming they clear 4.20 today, the breakout would have a conventional measured move target of 4.60. And I think that would just be for starters. What’s Up with Down Withholding Tax Collections For moron the markets, see: Is This the End, or Only the Beginning February 5, 2024 What’s Up with Down Withholding Tax Collections February 4, 2024 In the Goldrums February 2, 2024 Swing Trade Screen Picks – Clearing Out the Shorts January 30, 2024 Fed Balance Sheet Right Now Says Bears Should Get Ready to Rumble January 28, 2024 Primary Dealers Are Maxed Out Again January 24, 2024 US Economy Crashed in December – Nope, See Update January 3, 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. Sorry I didn't see it. You know talk is cheap. The market's going to do what it wants to do until it runs out of money.
  7. Only the Beginning LEE ADLER 2 - TECHNICAL TRADER FEBRUARY 5, 2024 All signs point to the path of least resistance continuing to be to the upside including updated long-term cycle projections. Non subscribers click here to access. Technical Trader subscribers click here to download the complete report. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! Looking at the hourly chart of the ES, 24 hour S&P futures, as is our wont here, maybe we can throw out the above if they break 4920 today. Otherwise, there's still a 5 day cycle projection on sale at 4995. That's right, stoolies, just 4995. Get yours today. For moron the markets, see: Is This the End, or Only the Beginning February 5, 2024 What’s Up with Down Withholding Tax Collections February 4, 2024 In the Goldrums February 2, 2024 Swing Trade Screen Picks – Clearing Out the Shorts January 30, 2024 Fed Balance Sheet Right Now Says Bears Should Get Ready to Rumble January 28, 2024 Primary Dealers Are Maxed Out Again January 24, 2024 US Economy Crashed in December – Nope, See Update January 3, 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.
  8. 5 day cycle projection 4980. I don't know about that.
  9. I am simply going to stop even attempting to explain the divergence between the BLS reports and the tax data. It's a mystery, wrapped in a riddle, inside an enema. https://liquiditytrader.com/index.php/category/monetary/
  10. Wow. Big number. It's not consistent with what I saw in the first half of January in the withholding data. But mostly this number should tie in with December withholding. Not even remotely close. Either something is wrong with the jobs data, or something is wrong with the withholding data.
  11. I haven't run them for January yet. But it would be rare for them to match.
  12. It's a beautiful, sunny 63 degrees here today. I'm going to head out for the afternoon. Have fun and stay out of trouble! If you're interested in the local environment here, check out my instagram photo journal. https://www.instagram.com/p/C20kCIBsr5w/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==
  13. Whatever the Load said on Wednesday, the market changed its mind about it on Thursday. But while it looked like a breakout, it really wasn't. Yet. As you can see on the ES 24 hour S&P futures, we have a megaphone pattern developing. Yes they made a new high, but they didn't break the slightly rising resistance trendline. To do that would require an hourly close above 4945 at the close of New York trading today. And bears, don't even think about it unless the ES is below 4915 at the close. Swing Trade Screen Picks – Clearing Out the Shorts Meanwhile, look at the 10 year Treasury yield. Some big bullish bets have been placed in the past couple of days. We're set up for something big here. The market will tell us over the next couple or 3 days. Fed Balance Sheet Right Now Says Bears Should Get Ready to Rumble In the Goldrums LEE ADLER 3 - GOLD TRADER FEBRUARY 2, 2024 A possible 13-week cycle upturn here could finally get gold out of the doldrums but it would need to clear xxxx for the impetus to get back to xxxx. But in the bigger picture, there are some bad signs. Non-subscribers click here for access. Subscribers, click here to download the report. Meanwhile, I’m keeping two mining charts on the pick list. Non-subscribers click here for access. Try Lee Adler’s Gold Trader risk free for 90 days! For moron the markets, see: In the Goldrums February 2, 2024 Swing Trade Screen Picks – Clearing Out the Shorts January 30, 2024 The Danger Is that the Rally is Narrowly Based January 29, 2024 Fed Balance Sheet Right Now Says Bears Should Get Ready to Rumble January 28, 2024 Primary Dealers Are Maxed Out Again January 24, 2024 US Economy Crashed in December – Nope, See Update January 3, 2024 This Chart Tells Us Exactly When the Bull Market Will End November 26, 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.
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