DrStool Posted September 3, 2021 Report Share Posted September 3, 2021 Happy Labor Day Weekend! First, let's start with the 4 hour bar look for perspective. This thing just keeps grinding away at resistance, while staying around and above the top of the megaphone pattern that began in July. Now, the usual one hour look, shows pretty much the same thing. An early 5 day cycle projection points to 4570 here at 6:30 AM in New York. BUT, they haven't broken out and hourly cycle oscillators are on the cusp. This could still go either way. The benefit of the doubt should always go to the upside until proven otherwise, so I lean toward that view here. In that case, the initial target lines are around 4562-65. 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...
Jimi Posted September 3, 2021 Report Share Posted September 3, 2021 NFP steps up to the plate. Here comes the pitch. High fastball. Swing, and a miss. Link to comment Share on other sites More sharing options...
Mkucstars Posted September 3, 2021 Report Share Posted September 3, 2021 Print MOAR! Link to comment Share on other sites More sharing options...
DrStool Posted September 3, 2021 Author Report Share Posted September 3, 2021 We got a crash on the jobs report, but look where their sitting now. Right on the magaphone line. By the way, no one should have been surprised by the jobs report, which was a relatively accurate guess by the BLS this month. We saw this in the tax data over the past 6 weeks. One data set is fact. The other is artistic impressionism. I'll let you decide which is which. https://liquiditytrader.com/index.php/2021/08/26/link-corrected-qe-still-100-of-treasury-issuance-but-coming-change-crash/ Link to comment Share on other sites More sharing options...
DrStool Posted September 3, 2021 Author Report Share Posted September 3, 2021 The persistence of the negative divergences in the hourly oscillators over the past week suggests that this downtick has a chance to amount to something. Link to comment Share on other sites More sharing options...
DrStool Posted September 3, 2021 Author Report Share Posted September 3, 2021 2 minutes ago, DrStool said: Doesn't guarantee it, of course, but at least there's the appearance of a chance. Link to comment Share on other sites More sharing options...
PullMyFinger Posted September 3, 2021 Report Share Posted September 3, 2021 6 minutes ago, DrStool said: Doesn't guarantee it, of course, but at least there's the appearance of a chance. So you're telling me there's a chance? Yeah! Link to comment Share on other sites More sharing options...
Mkucstars Posted September 3, 2021 Report Share Posted September 3, 2021 Wait... don't markets only go up now? (Sarc) Link to comment Share on other sites More sharing options...
PullMyFinger Posted September 3, 2021 Report Share Posted September 3, 2021 The beauty of these markets still amaze me after all these years, even in all time frames. Here's 4 minute NQ for last 2 days. Yesterday's decline of 131 points was within 5 points of a perfect 7/8 (87.5%) decline of a 156 point octave (156.25 is a Murrey Math octave, think of it as Gann angles, kinda). Today's decline of 125 points was within 8 points of a perfect 6/8, and then it put in a slightly higher low (by .5) vs. yesterday, then up it went. Given the sloppy way I trade, 5 points and 8 points using NQ is plenty close. Back in U.S. next week and will be hanging around the Stool Cooler more. Missed it. Hoping that some market fireworks start after the long weak end and maybe bears can finally get something going that sticks for a bit. I have my doubts, but I also have my hopes. 🙂 Hasta luego! Link to comment Share on other sites More sharing options...
DrStool Posted September 3, 2021 Author Report Share Posted September 3, 2021 Gorgeous night here in Warszawa. The town is jumping. Had another fantastic meal at a little Italian joint in the trendy Powisle neighborhood about 5 blocks from my apartment. Then walked up the hill through the Warsaw University neighborhood. Typical of a major urban university campus on a Friday night. Strikingly upscale though. This town is full of surprises. Link to comment Share on other sites More sharing options...
DrStool Posted September 3, 2021 Author Report Share Posted September 3, 2021 View this post on Instagram A post shared by Drone Aerial, Video, Photo (@wefilmphilly) Link to comment Share on other sites More sharing options...
DrStool Posted September 3, 2021 Author Report Share Posted September 3, 2021 That's my neighborhood back in Philly. It's where I was born and spend a good part of my life as a child and as an adult. It will always be home. My heart is breaking. Link to comment Share on other sites More sharing options...
DrStool Posted September 4, 2021 Author Report Share Posted September 4, 2021 Carson Wentz is an asshole. Ben Simmons is an asshole. Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 4, 2021 Report Share Posted September 4, 2021 4 hours ago, DrStool said: Carson Wentz is an asshole. Ben Simmons is an asshole. do you still have your Philly Baseball webpage? Link to comment Share on other sites More sharing options...
jp6 Posted September 5, 2021 Report Share Posted September 5, 2021 It's always dark before the daylight. Link to comment Share on other sites More sharing options...
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