DrStool Posted December 3, 2020 Report Share Posted December 3, 2020 They ran it up to test the Pfizer day high yesterday, but couldn't muster the troops to break through. Momentum weakened and there's been a little selling this morning here at 4:30 AM New York time. We even have an uptrend channel break. But support is suggested around 3658 on the ES. That needs to break to get anything rolling on the downside. Then we're looking at more support in the 3650ish zone. To complete a nice top pattern on the hourly, they need to take out 3642. Then we'd be in business for a little downdraft. Maybe more. If none of that happens, then this is just another sucker punch to bears. It's too soon for downside projections on 2-3 and 5 day cycles. Hourly oscillators are headed down, but they're still above zero. That means no change of trend yet. The one hopeful sign is that traffic on this board and on my other websites has utterly collapsed. Absolute devastation. No interest whatsoever. That's the good news. I can't wait to see the bad news. Watch the 10 year. It's a big deal. I'm working on a report on Primary Dealer conditions, to be posted in Liquidity Trader later today. Link to comment Share on other sites More sharing options...
Jorma Posted December 3, 2020 Report Share Posted December 3, 2020 The bad news could be biblical. Link to comment Share on other sites More sharing options...
aussiebear Posted December 3, 2020 Report Share Posted December 3, 2020 Absolutely tedious watching this market atm let alone trying to trade it. Paralysis has set in and until we get a major move (I'm thinking down) it's 2 steps forward, 2 steps back, 2 steps forward, etc, etc .. Link to comment Share on other sites More sharing options...
aussiebear Posted December 3, 2020 Report Share Posted December 3, 2020 Add to that a whole lot of trigger-happy newbie daytraders ... sheesh Link to comment Share on other sites More sharing options...
Jorma Posted December 3, 2020 Report Share Posted December 3, 2020 Let me suggest that US Treasury debt could be the worst asset in the world at this moment, except maybe Tehran real estate. Link to comment Share on other sites More sharing options...
DrStool Posted December 3, 2020 Author Report Share Posted December 3, 2020 2-3 day cycle projection 3680. Link to comment Share on other sites More sharing options...
DrStool Posted December 3, 2020 Author Report Share Posted December 3, 2020 5 day cycle projection 3690. Link to comment Share on other sites More sharing options...
Jimi Posted December 3, 2020 Report Share Posted December 3, 2020 3 hours ago, Jorma said: Let me suggest that US Treasury debt could be the worst asset in the world at this moment, except maybe Tehran real estate. Oh man - that is some dark humor right there. Link to comment Share on other sites More sharing options...
DrStool Posted December 3, 2020 Author Report Share Posted December 3, 2020 The Big Dealer Leverage Brainfart 1 - LIQUIDITY TRADER DECEMBER 3, 2020 Link to comment Share on other sites More sharing options...
DrStool Posted December 3, 2020 Author Report Share Posted December 3, 2020 How about that idea of firing squads. Pretty cool, huh. Link to comment Share on other sites More sharing options...
DrStool Posted December 3, 2020 Author Report Share Posted December 3, 2020 Trump and the Fed have turned the US dollar and a US passport into absolute garbage. Toilet paper. And 74 million Americans voted for him. Why? Link to comment Share on other sites More sharing options...
DrStool Posted December 3, 2020 Author Report Share Posted December 3, 2020 2,833 victims died of COVID19 in the US yesterday. The next worst country in the world was Mexico with 825. Then Italy, with its aging population with 684. Then Brazil with 669. What the hell. The US is supposed to be the greatest country on earth. I mean what the bloody fucking hell has this monster done? 74 million people voted for this. This is what they want? This is making America great? This is hell on earth, and this is what 74 million Americans want. Link to comment Share on other sites More sharing options...
DrStool Posted December 3, 2020 Author Report Share Posted December 3, 2020 What a dystopian nightmare. Link to comment Share on other sites More sharing options...
potatohead Posted December 3, 2020 Report Share Posted December 3, 2020 57 minutes ago, DrStool said: Trump and the Fed have turned the US dollar and a US passport into absolute garbage. Toilet paper. And 74 million Americans voted for him. Why? Just when small businesses were hoping for the christmas season to save them. Link to comment Share on other sites More sharing options...
DrStool Posted December 3, 2020 Author Report Share Posted December 3, 2020 The reason the US is doing worse than any other country on earth is simple. That segment of the American people who refuse to behave responsibly with regard to their own health, and that of their fellow human beings. It disgusts me. But it's not just the US. Europeans are no different. But their governments are more aggressive in promulgating masking rules and lockdowns to knock down the spread of the virus. These countries are now doing far better than they were a few weeks ago. Link to comment Share on other sites More sharing options...
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