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Load Up the Right Side To Unleash Swing Power 5/24/21

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What can I say. I like sports analohgeeze. 

The obvious initial target of this premarket move in the ES fucutures is 4185. If they clear that, abandon hope, all ye bears who enter here (literary reeferants). Such a breakout would have a base pattern measured move implication of 4300. But first, the 5 day cycle projection looks 4200ish. 

On tother hand, if this rolls over below 4178, bears ball. And if they break 4163, bears could... go... all... the... way. 

To 4140-45.

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Meanwhile, 

Stock Market Meat Grinder Running in an Uptrend

 

The Meat Grinder Prevails – Swing Trade Picks For Week of May 24, 2021

 

LEE'S FREE THINKING

About the Reverse Repo (RRP) “Crisis”

by Lee Adler •  • 0 Comments

Zero Hedge, in its inimitable, breathless, and incomprehensible fashion referred to a looming crisis in the Fed’s Reverse Repo program.

This is an important issue, but there’s a lot of confusion around it, so I want to try to explain exactly what’s going on and why it’s not a crisis now, but is a mirror on a process that will lead to one. We know exactly why, and we know when.

Banking System Fragile As Fuse For Implosion Nears Ignition

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Using slightly different points and lines the number is 4300. They love round numbers. 

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3 minutes ago, PullMyFinger said:

NQ shorts getting kicked in the head today. But first, a musical interlude. 

 

 

That's even before my time. 

 

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A cynic (not that there are any on this board, with the possible exception of me) might think that "they" have been allowing private cryptocurrencies to test them and to see if they would flourish or fail, then drop the hammer on them and do their own thing if they proved successful. Not sure that they are too keen on any competition. So, I guess I expect to see more of these trial balloons floated in the near future as they prepare us all for what might be coming. 

https://www.cnbc.com/2021/05/24/feds-lael-brainard-pushes-digital-dollar-as-central-bank-currency-race-heats-up.html

 

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3 minutes ago, DrStool said:

That's even before my time. 

 

My Dad, Scandinavian farmer that he was in the middle-of-nowhere Minnesota, was a dead ringer for Dean Martin, that Italian guy from Steubenville, Ohio. He used to walk around the house belting out Dean Martin tunes when he was in a good mood, which was almost all the time. Had tons of Dean Martin albums too. I grew up on that stuff. He sounded a lot like him too. Man, I miss my Dad. 

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Sounds like mine. My Dad loved Dean, but Perry Como even more. He had every album. Probably every Sinatra and Martin album too. The complete set of Glen Miller, Goodman, the Dorseys, Artie Shaw. All of them. And he could sing!  Excellent voice.  Dad looked like John Wayne.  

 

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4210 will be a tougher nut, but if they break it, then they'll test the high of 4237 in a flash. 

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Couldn't clear 4200. Levels to watch on pullback 4187, 4183. If either holds, they're run em up late. 

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