DrStool Posted August 19, 2021 Report Share Posted August 19, 2021 The ES futures (S&P500) broke support at 2 AM NY time. As of 6 AM they in the midst of at least a back kiss of the breakdown level of 4373. How things evolve from here over the next few hours will tell us whether a short term low is in place. The selloff exceeded last night's 5 day cycle projection of 4385, and hit this morning's projection of 4355. So the likelihood is that at least a 5 day cycle low is forming, subject to a possible test probably after the NY open. Resistance is indicated around 4376, where they're trading as I write, and 4385-86. Spport is indicated around 4352. Stay tuned for updates! And now for your longer term listening and dining pleasure: Chart Picks – 25 Buy Signals and 41 Sell Signals Give Us These Picks Gold’s Rebound Increases the Risk So You Really Think the Fed Can Taper? Here Are the Stock Market’s Latest Targets 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 filter. Link to comment Share on other sites More sharing options...
DrStool Posted August 19, 2021 Author Report Share Posted August 19, 2021 BOING! Link to comment Share on other sites More sharing options...
DrStool Posted August 19, 2021 Author Report Share Posted August 19, 2021 A little pullback from here. Then we'll see. If they clear 4403, next target would be 4420. Gotta go! Link to comment Share on other sites More sharing options...
PullMyFinger Posted August 19, 2021 Report Share Posted August 19, 2021 One by one, the Horsemen of the Nascrapolyse are starting to turn green. Conquest. War. Famine. Death. Eavesdropping. Spying. Intrusion. Link to comment Share on other sites More sharing options...
jp6 Posted August 19, 2021 Report Share Posted August 19, 2021 This action is just Option Expiry week like one in June and July. It's not the time to get short after Friday close. Retest of High will come around 3rd September even if support gives way. It's just a teste of what's coming soon. Link to comment Share on other sites More sharing options...
DrStool Posted August 19, 2021 Author Report Share Posted August 19, 2021 2-3 day cycle projection 4440 or fight. Link to comment Share on other sites More sharing options...
MisFit Kid Posted August 19, 2021 Report Share Posted August 19, 2021 1 hour ago, PullMyFinger said: One by one, the Horsemen of the Nascrapolyse are starting to turn green. Conquest. War. Famine. Death. Eavesdropping. Spying. Intrusion. All Bullish and going to plan......... or as Pink said "to the Man"........ Big man, pig man Ha ha, charade you are Link to comment Share on other sites More sharing options...
DrStool Posted August 19, 2021 Author Report Share Posted August 19, 2021 1 hour ago, DrStool said: 2-3 day cycle projection 4440 or fight. Canceled. Sorry. We now return to today's rain delay programming. Link to comment Share on other sites More sharing options...
jp6 Posted August 19, 2021 Report Share Posted August 19, 2021 It's trading between resistance and support. Support will give by tomorrow. Link to comment Share on other sites More sharing options...
jp6 Posted August 19, 2021 Report Share Posted August 19, 2021 1 hour ago, MisFit Kid said: All Bullish and going to plan......... or as Pink said "to the Man"........ Big man, pig man Ha ha, charade you are You had 150 Months of Fun. Isn't that long enough? Link to comment Share on other sites More sharing options...
PullMyFinger Posted August 19, 2021 Report Share Posted August 19, 2021 7 minutes ago, jp6 said: You had 150 Months of Fun. Isn't that long enough? Are you saying that Dow & S&P should peak early September, but NASDAQ has already peaked in August? Link to comment Share on other sites More sharing options...
DrStool Posted August 19, 2021 Author Report Share Posted August 19, 2021 I'm liking the action on the EUR/USD. My cost of living in Europe has been going down for a few months, after squeezing pretty good a couple times in the past year. Actually things are so cheap in Eastern Europe I didn't notice it much. I'm embarrassed to tell you how much I'll be paying for a penthouse apartment here in Warsaw, in one of the best downtown locations you'll find in any major capital city. Comparing the cost to something similar in Philly, it's about 70% less. The bottom of the range of the past year is 1.163. If EUR drops below that, we're looking at a much weaker EUR and stronger dollah. If the Fed tapers, which I think they're asinine enough to attempt it, not only will bond yields soar, but it might even be deflationary if one of the results is also a soaring dollar. I don't know. Just speculating. Inflation is an effect of money supply. We're just gonna have to see how much that slows when the Fed pulls the trigger. I'm really only interested in the first order effects of monetary policy, which are stock and bond prices. Everything else is tangential. Link to comment Share on other sites More sharing options...
jp6 Posted August 19, 2021 Report Share Posted August 19, 2021 53 minutes ago, PullMyFinger said: Are you saying that Dow & S&P should peak early September, but NASDAQ has already peaked in August? Yes Not sure new high is coming, Double top or little higher high. NDX looks like peaked. All indexes Makes top at different time, Dow Can still go to 36K before it's all over. waiting for Scam week to finish then see what the Bounce look like. June, July and August Scam week has gone bear ways. Once support break then all index's should go up. One need to watch Summation Index if Bearmarket has started. Link to comment Share on other sites More sharing options...
jp6 Posted August 19, 2021 Report Share Posted August 19, 2021 I am looking for USD to get strong. not good for stocks or Gold. Link to comment Share on other sites More sharing options...
PullMyFinger Posted August 19, 2021 Report Share Posted August 19, 2021 4 minutes ago, jp6 said: Yes Not sure new high is coming, Double top or little higher high. NDX looks like peaked. All indexes Makes top at different time, Dow Can still go to 36K before it's all over. waiting for Scam week to finish then see what the Bounce look like. June, July and August Scam week has gone bear ways. Once support break then all index's should go up. One need to watch Summation Index if Bearmarket has started. Thanks so much for your response. Much appreciated. Link to comment Share on other sites More sharing options...
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