DrStool Posted October 13, 2021 Report Share Posted October 13, 2021 Here's the 2 hour bar chart. While we still have an hourly bear market, the 5 day cycle count and pattern of the past two weeks certainly looks base-y. The levels to watch on the downside are 4327 and 4309. Break those and we could have a bear party. Here's the one hour bar look. Dare I say it looks bullish? Bulls need to clear 4375 and 4400 to give this Count Basie some upside rhythm. This is just the intraday look. For more: Head and Shoulders Above Get the big picture in your inbox every weekend. 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...
Jorma Posted October 13, 2021 Report Share Posted October 13, 2021 I was puzzled last night about why they are still paying down Bills. Its because the debt ceiling bill was just passed last night by the House. It needs Biden's signature, then we will see. Link to comment Share on other sites More sharing options...
DrStool Posted October 13, 2021 Author Report Share Posted October 13, 2021 1 hour ago, Jorma said: I was puzzled last night about why they are still paying down Bills. Its because the debt ceiling bill was just passed last night by the House. It needs Biden's signature, then we will see. All they've done is to kick the can into December. It will be interesting to see if the market buckles under $240 billion a month in borrowing over the next 2 months. https://liquiditytrader.com/index.php/2021/10/07/booming-tax-revenues-overheating-risk-and-the-real-crisis-starts-now/ Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 13, 2021 Report Share Posted October 13, 2021 Missed all the "fun" of the last couple days. Now ensconced into PullMyFinger Capital's Latin American H.Q. office/condo concrete box. Just dodged Hurricane Pamela when it took a right turn toward the mainland, so not trading much yet this week. You will have to rely on someone else for your contrarian trading signals. 🙂 Looking at NQ charts this morning, I think I might be reduced to trading a 4 minute chart when I do have time to watch mr. market. This churn is making me seasick. Keep 'em down! Link to comment Share on other sites More sharing options...
Mkucstars Posted October 13, 2021 Report Share Posted October 13, 2021 Workin' it, short small caps and big tech right before the open Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 13, 2021 Report Share Posted October 13, 2021 Playing around with a Skittles Rainbow Arc™️ indicator on 60M NQ this morning. Link to comment Share on other sites More sharing options...
potatohead Posted October 13, 2021 Report Share Posted October 13, 2021 6 minutes ago, PullMyFinger said: Playing around with a Skittles Rainbow Arc™️ indicator on 60M NQ this morning. looks like a nuclear fall out zone Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 13, 2021 Report Share Posted October 13, 2021 11 minutes ago, potatohead said: looks like a nuclear fall out zone Edit: sorry, that was 30M and not 60. Or, it's kind of like you throw a rock into calm water and watch the waves radiating out from the center. Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 13, 2021 Report Share Posted October 13, 2021 Arc de Triomphes have been working well today. Here's the Double Menorrah formation on the 8M NQ. Done trading for the day. Hopefully see y'all tomorrow, or maybe Friday! Link to comment Share on other sites More sharing options...
DrStool Posted October 13, 2021 Author Report Share Posted October 13, 2021 I have arrived in Szczecin. Say that fast 3 times. So far, I'm underwhelmed. pronounced Shchetseen. I know. Doesn't help. Not much happening here, either. But the pattern now is hyper bullish. But only if they clear 4360 in the next couple of hours. Link to comment Share on other sites More sharing options...
DrStool Posted October 13, 2021 Author Report Share Posted October 13, 2021 9 minutes ago, PullMyFinger said: Arc de Triomphes have been working well today. Here's the Double Menorrah formation on the 8M NQ. Done trading for the day. Hopefully see y'all tomorrow, or maybe Friday! Excellent! Rarely seen. By the way. It's starting. $65 billion in net new T-bills announced to settle next week. Let the RRP slush fund drawdowns begin. Link to comment Share on other sites More sharing options...
Jimi Posted October 13, 2021 Report Share Posted October 13, 2021 4 hours ago, PullMyFinger said: Edit: sorry, that was 30M and not 60. Or, it's kind of like you throw a rock into calm water and watch the waves radiating out from the center. 30 megaton v. 60 megaton. Link to comment Share on other sites More sharing options...
Jimi Posted October 13, 2021 Report Share Posted October 13, 2021 My proprietary technical stuff just triggered. It appears that today's market action is the most important capital market activity in 3,000 years. It will be clear in retrospect. Link to comment Share on other sites More sharing options...
Jimi Posted October 13, 2021 Report Share Posted October 13, 2021 (I know it's supposed to be proprietary, but today's action was the most-boring in the last 3,000 years... prior, there was a period of surplus rains & related wheat production and the price of the latter didn't budge for 27 years. That was the last time my proprietary stuff triggered. And if you know your Pharaonic history, then you know what Aakheperre - and lo! the entire ancient world - suffered the next day....) Link to comment Share on other sites More sharing options...
Jimi Posted October 13, 2021 Report Share Posted October 13, 2021 You've been.... WARNED!! Link to comment Share on other sites More sharing options...
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