DrStool Posted September 7, 2021 Report Share Posted September 7, 2021 Apparently traders are taking the old Wall Street adage to heart. Sell Rosh Hashanah, buy Yom Kippur. So Happy New Year to all you Jewish bears out there, and other celebrants and non-celebrants alike. L'shana tovah. At least this morning, we get to celebrate a weak opening. As for the rest of the day, this chart has your keys. At 5:45 AM in New York, the ES futures were below the cyan line, which is the top of the megaphone pattern dating back to July 19. That opens some downside for a likely test of sport around 4521-24. At that point, assuming they get there, then we get the proverbial, "We'll see." I see no indication currently that suggests they'll break down further. They might, but I just don't see a real tell that would make me overweight the odds of a breakdown. And even if it does break, then more sport is indicated at 4517. I don't see that breaking, but I might need new glasses. So color me skeptical. Again, we'll see. On the other hand, if they don't fall further from here, and then climb back above the megaphone line, I have little doubt that we'd get another upside breakout. And for your longer term listening and dining pleasure: Take the Threat of this Triple Whammy Seriously Now Here’s Why “Sell Rosh Hashanah, Buy Yom Kippur” Won’t Work This Year Here’s What Happens When Gold’s Cycles Are at Cross Purposes 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 7, 2021 Author Report Share Posted September 7, 2021 Just noticed there's a channel line at 4530. Link to comment Share on other sites More sharing options...
Mkucstars Posted September 7, 2021 Report Share Posted September 7, 2021 Volume returns after labor day. Harder to manipulate the fake markets. Link to comment Share on other sites More sharing options...
Mkucstars Posted September 7, 2021 Report Share Posted September 7, 2021 Even harder to buy the dip without a dip Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2021 Author Report Share Posted September 7, 2021 5 day cycle projection 4513. I'm surprised it broke this much. What do I know. Link to comment Share on other sites More sharing options...
Mkucstars Posted September 7, 2021 Report Share Posted September 7, 2021 Had a blast yesterday, made final table in Labor day poker tournament out of 1389 players Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2021 Author Report Share Posted September 7, 2021 Rosh Hashanah is typically a low volume day. 5 day cycle projection now 4500. They've smashed the upper megaphone line. That would normally indicate a top, of sorts. Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2021 Author Report Share Posted September 7, 2021 Looks like they've broken an obvious top on the hourly. Measures to 4483. Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2021 Author Report Share Posted September 7, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2021 Author Report Share Posted September 7, 2021 First test of this rebound will be at 4532, then 4536. If they clear that, up we go. Link to comment Share on other sites More sharing options...
Jimi Posted September 7, 2021 Report Share Posted September 7, 2021 3 hours ago, Mkucstars said: Had a blast yesterday, made final table in Labor day poker tournament out of 1389 players I miss online poker. I loved tournament play. I was Kondratieff on Full Tilt: https://www.sharkscope.com/#Player-Statistics//networks/FullTilt (Closed)/players/Kondratieff?filter=Entrants:30~* Link to comment Share on other sites More sharing options...
jp6 Posted September 7, 2021 Report Share Posted September 7, 2021 If Dow continue to head south then Top was in August and other will follow soon Here is something to consider. Dow 1929 was the biggest Bubble and top was 3rd September 1929, Full Moon and labour day holiday. 2021 is also bigger then 1929 bubble. 7th September also Full Moon and labour day holiday. Nature has it's way. Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2021 Author Report Share Posted September 7, 2021 I'm gonna shut down a few minutes early. Have a great evening! Link to comment Share on other sites More sharing options...
PullMyFinger Posted September 7, 2021 Report Share Posted September 7, 2021 10 minutes ago, jp6 said: If Dow continue to head south then Top was in August and other will follow soon Here is something to consider. Dow 1929 was the biggest Bubble and top was 3rd September 1929, Full Moon and labour day holiday. 2021 is also bigger then 1929 bubble. 7th September also Full Moon and labour day holiday. Nature has it's way. Not saying you aren't correct about the other things you posted, but I believe that today is a new moon, not a full moon? I have been looking at the stuff you have posted over in Look Out Below, thanks for sharing it. Link to comment Share on other sites More sharing options...
jp6 Posted September 7, 2021 Report Share Posted September 7, 2021 13 minutes ago, PullMyFinger said: Not saying you aren't correct about the other things you posted, but I believe that today is a new moon, not a full moon? I have been looking at the stuff you have posted over in Look Out Below, thanks for sharing it. My mistake it should have been New Moon. here you can check it out https://mooncalendar.astro-seek.com/new-moon-january-1929 https://mooncalendar.astro-seek.com/moon-phase-day-3-september-1929 https://mooncalendar.astro-seek.com/new-moon-january-2021 Link to comment Share on other sites More sharing options...
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