DrStool Posted September 1, 2021 Report Share Posted September 1, 2021 The more that things remain the same, the more they remain the same. Powell announced that tapering of QE will start immediately. That's different. Meanwhile, the trendline from the August 19 low is still there. Touched 8 times, and headed for a 9th here in the early pre market, approaching noon in Europe. The line is currently at 4532, but there are a couple of additional trendlines a point or two below that. All would need to be broken to suggest a potential end to the uptrend. Then they'd need to break 4520. Resistance is at 4544-45. If they break that, the next target would be 4565. And for your longer term listening and dining pleasure: Here’s What Happens When Gold’s Cycles Are at Cross Purposes Chart Picks – 8 New Picks From Last Week’s Swing Trade Screens Here are the Keys to More Upside as Cycles Get Back In Sync QE Still = 100% of Treasury Issuance, But Coming Change = Crash 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 September 1, 2021 Author Report Share Posted September 1, 2021 Double top w slightly lower high. Trendline broken. 4532 break would be the third horseman of the powellpockalips. Link to comment Share on other sites More sharing options...
DrStool Posted September 1, 2021 Author Report Share Posted September 1, 2021 If they don't take out 4520 by 11 AM or so, it would be my learned opinion that this MoFo will blast off. Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 1, 2021 Report Share Posted September 1, 2021 2 hours ago, DrStool said: If they don't take out 4520 by 11 AM or so, it would be my learned opinion that this MoFo will blast off. you mean Like AAPL, just killing me (covered calls way too low) Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 1, 2021 Report Share Posted September 1, 2021 In memory/honor of "Shorty" Link to comment Share on other sites More sharing options...
DrStool Posted September 1, 2021 Author Report Share Posted September 1, 2021 Well well, look where they wound up. Right on the line. With a 5 day cycle projection of 4520. Link to comment Share on other sites More sharing options...
potatohead Posted September 1, 2021 Report Share Posted September 1, 2021 US TREASURY GENERAL ACCOUNT $356B AUG 31 VS $263B PRIOR DAY was this tax receipts? Link to comment Share on other sites More sharing options...
DrStool Posted September 1, 2021 Author Report Share Posted September 1, 2021 49 minutes ago, potatohead said: US TREASURY GENERAL ACCOUNT $356B AUG 31 VS $263B PRIOR DAY was this tax receipts? No. End of month note and bond settlement. The net settlement was $110 billion after T-bill paydowns. Tax collections come in on Sept 15. That will give another little boost. If it's strong, it could push DD Day out a few weeks, but I think that the legal mandate to make the military pension fund payment is on Oct 1, so that's still an issue. Link to comment Share on other sites More sharing options...
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