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Hourly Chart Trend Bend- If This is the Down Phase... 4/12/21

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Thanks to a little spreadsheet snafu this weekend, I'm way behind the 8ball, so here's a barebones post to start the day.

There's not much to say. The chart says it all. We're going up unless and until they break the channel line rising from 4106 to 4112 during New York market hours today. 


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Oh What a Tangled Web We Weave When First We Update a Spreadsheet from Fed Data

Gold – Finally Some Good News


Stimmy Gonna Leave Its Mark… In Bond Trader’s Underwear

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The S&P has now broken through a long term uptrend line that dates from the 2014 peak.

All intermediate and short cycles remain in gear to the upside. There are updated projections on the 13 week cycle and 10-12 month cycle. They are eyepopping for bulls, and eye watering for bears.

The third rail chart is in a meltup. This report shows you its parameters.

Cycle screening measures continue to confirm the uptrend. They show no sign of reversal.

The chart pick list had an average gain of 3.3% with an average holding period of 11 calendar days (1.6 weeks) last week. I have adjusted trailing stop takeout prices for this week.

The current screen from charts as of April 9, had 41 total signals with 17 bullish signals against 24 bearish signals. I chose 4 of the buys to add to the chart picks this week.

Technical Trader subscribers click here to download the report.

Not a subscriber? Follow Lee’s market analysis and outlook, with price and time targets, and weekly swing trade chart picks, risk free for 90 days!  

These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance. 

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I predict. 

That if they don't break this trend right here. 

We will see an upside explosion that will bring tears to your eyes. 

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16 minutes ago, potatohead said:

Fed's Bullard: Not Yet Time To Talk About Trimming Fed Bond Buying

Wonder why?

Yeah. Right. 

We know why, don't we. 

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During the inflation of the 60's and 70's financial assets didn't. They deflated.  Bonds of course but stocks too and around 76 stocks valuations vs GDP, or something, was the lowest ever.  Now that they have that problem fixed inflation is our friend. Especially for those that own them.  

Also there is now an active meme in wonky circles that denies that asset inflation can even exist. I doubt they will deny asset deflation exists when the time comes.  That could be 2050 however.

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Maybe I should just start trading the first and last hours of the day. Trade the first hour, go to the beach, get lunch, a quick nap, and come back and wait for the inevitable ramp in the last hour. 

Or, I suppose I could continue my policy of blindly buying on any morning dip and waiting for the market to rescue my stupid entries. Then I could stay at the beach all day. 🙂

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