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Overnight Bank Heist 5/11/21

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1 hour ago, DrStool said:

My SPY 3 minute bars chart this morning. 

spy.jpg

I think that this was the tell.

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Well, they took out the bottom of the range starting April 4, suggesting that this pattern is indeed a top.  

Hmmmmm... 

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15 minutes ago, DrStool said:

Well, they took out the bottom of the range starting April 4, suggesting that this pattern is indeed a top.  

Hmmmmm... 

is April 4 a typo.. that is a Sunday

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9 minutes ago, No Einstein said:

is April 4 a typo.. that is a Sunday

The market is closed on Sunday? 

😄 

It should read April 14, but there's a low on April 3 that they haven't broken yet. So maybe this is a fakeout. 

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They've taken out every low in this pattern except that one. And that's an itty bitty early in the game. 

I'm sometimes a bit late at major turns. I doubt that's what this is, but we'll see. 

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That would be a tall order. Let's see first if they break the downtrend. Need to clear 4148 on the ES this hour. Less going fo wad. 

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Simple forensics say the wildly overbought condition is cured at the perfect time of the month with max liquidity from the Feds MBS settlements starting and $55bn Bill paydowns this week.

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A funny one yesterday came over the wire as some Fedhead said residential RE inflation is of no concern because it isn't fueled by leverage.  Oke dokee.

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