DrStool Posted October 22, 2021 Report Share Posted October 22, 2021 US stock prices are rising again today, thanks to strong fundamental economic growth driven by free market capitalism. The rising tide of unfettered economic growth with no central bank interference means that stock prices should rise every day. And they do. What a world! All members of society will be rich, as the free market distributes wealth to all segments of society equally. Today is no exception. As you can see from this 2 hour bar chart, the market is now lifting off from a massive base. That base followed the terrible, and completely unnecessary September Bear Market of Blessed Memory. According to the rules of Modern Technical Analysis (aka MTA- change at 63rd Street for the Q line), all patterns are bullish, and the Measured Move Target (MMT, as derived) of 4680... Or 4860, I forget. Besides WTF difference does it make. Here's the one hour bar look. There's no 5 day cycle projection yet. But fear not, intrepid bulls. The 2-3 day cycle projection is 4580. That coincides roughly with trend resistance indicated around 4575 on the hourly chart. This is just the intraday look. For more: Bullish Intermediate Term Omens Get the big picture in your inbox every weekend. Meanwhile, check out BTC again. One thing I've noticed about it is that it tends to honor chart patterns and Hurst Cycle projections. Today it is pulling back from the top of its channel. Note that this is on a semilog scale, showing equal percentage moves vertically. "Orderly" personified. It now has projections of 71,000 and 91,000, as shown on the chart. And the conventional measured move target of this high base breakout is 101,000 give or take a few shekels. And from the archives of, "That looks familiar. Where have I seen it before?" I present, this. The 10 year Treasury yield chart. Oh, yeah. This will end well. Thou shalt not fight the trend, saith the Load. https://www.youtube.com/watch?v=DFvKWqUPmLU Get your regular updates on all things monetary, and what that means for stonks. Our Outlook On the Money 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 22, 2021 Report Share Posted October 22, 2021 As a public service here are some tips on how to avoid being killed by charging bulls. https://skyaboveus.com/climbing-hiking/How-to-scare-cows-to-avoid-being-trampled-to-death Link to comment Share on other sites More sharing options...
potatohead Posted October 22, 2021 Report Share Posted October 22, 2021 12 minutes ago, Jorma said: As a public service here are some tips on how to avoid being killed by charging bulls. https://skyaboveus.com/climbing-hiking/How-to-scare-cows-to-avoid-being-trampled-to-death "The muscle structure of a cow's neck does not allow it to run quickly on a downward gradient". Thus the upward movement of the stock market shall be known as a bull market. Link to comment Share on other sites More sharing options...
Jimi Posted October 22, 2021 Report Share Posted October 22, 2021 DWAC Link to comment Share on other sites More sharing options...
DrStool Posted October 22, 2021 Author Report Share Posted October 22, 2021 DWAC? Are you gonna make me google that? They sure are taking their time. Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 22, 2021 Report Share Posted October 22, 2021 It's Friday. Where's FloBot? And for that matter, where is MsFit Kid? Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 22, 2021 Report Share Posted October 22, 2021 TSLA is pulling its end of the rope today, but the rest of the Horsemen of the Nazcrapolyse are lagging. Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 22, 2021 Report Share Posted October 22, 2021 53 minutes ago, DrStool said: DWAC? Are you gonna make me google that? They sure are taking their time. Isn't DWAC the Trump-connected SPAC? Link to comment Share on other sites More sharing options...
MisFit Kid Posted October 22, 2021 Report Share Posted October 22, 2021 33 minutes ago, PullMyFinger said: It's Friday. Where's FloBot? And for that matter, where is MsFit Kid? Flo-Bot and I may have drank a wee bit too much last night....... Link to comment Share on other sites More sharing options...
DrStool Posted October 22, 2021 Author Report Share Posted October 22, 2021 Oh my gawd. The market is crashing. Link to comment Share on other sites More sharing options...
MisFit Kid Posted October 22, 2021 Report Share Posted October 22, 2021 2 hours ago, Jimi said: DWAC Trump is at it again....... >: Flo-Bot just kicked in...... Link to comment Share on other sites More sharing options...
DrStool Posted October 22, 2021 Author Report Share Posted October 22, 2021 Well, some other weak end we'll have a weak end. Chow, and Ciao. and Czesc! Link to comment Share on other sites More sharing options...
jp6 Posted October 23, 2021 Report Share Posted October 23, 2021 How many were here when in 2007 stocks and inflation were going to the Moon. 2007 Housing collapse everyone ignored it. Now 2021 China has the same problems. One thing for sure excess liquidity from china won't be coming to west. Since CCP is running the show in China. Price of apartment may not go down much and may make it impossible to sell their apartments. there will be no more apartment construction Boom. will they buy more raw material from Australia or Buy real estate in west? Remember what happened to Japan after Bubble deflated. Checkout HYG and Move Index which are linked to Bond Market. https://www.scmp.com/magazines/style/news-trends/article/3091222/japan-1980s-when-tokyos-imperial-palace-was-worth-more https://corporate.nordea.com/article/67806/china-im-forever-blowing-bubbles-how-bad-is-the-situation-in-chinese-real-estate 1 hour ago, jp6 said: We did get a huge bounce and was more then ,618. Now we have Double top like 2007 also Have H&S on Dow. NDX is making lower High similar to Dow 2007. Spx is making slightly higher high then September top. Believe that Dow would make it to 36K. should have realise when it wasn't going down according to plan that it will be like 2007. slightly higher high. Not like Y2K or 1929. What we will see a distribution then Plunge. 1974 Bottom to 1987 top was 662 weeks 2007 Bottom to 2021 top if it's 662 weeks would come to 8th November. I believe It will come before 8th November. Here are some charts showing You 2007 top and H&S on Dow. neckline is from 1929 top, 2000 Top. There is a good chance that Dow will hit 36K before it's all over. NDX should not takeout 15510 on closing price then Bearish scenario may begin week commencing 25th October or by 8th November. Most likely it will be over before 8th. November. Link to comment Share on other sites More sharing options...
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