DrStool Posted October 26, 2021 Report Share Posted October 26, 2021 OK, that was a typo, but I liked it and decided to go with it. 😁 If you don't think bears are in trouble here. Think again. I'll start with a 5 hour bar chart on the S&P bear fucutures. This high base breakout has a measured move target of 4800. The good news is that I don't think it will get there today. The bad news is that the last line of defense is 4605. That's the last double secret resistance area. Beyond that abandon hope, all ye and youses who enter here. The gates of bear hell are open. So let's downshift to the hourly bars. The 5 day cycle projection is 4590. But the way is clear to 4600. Should get a pullback from somewhere around there, but sport is coming up fast. They would need to break 4575 to get anything at all going on the downside. This is just the intraday look. For more: Stocks Look Ready for Another Liftoff More Sells Than Buys in Screen, But I Added Two Buys This Week Get the big picture in your inbox every weekend. Get your regular updates on all things monetary, and what that means for stonks. US Treasury Says, More Beans, Mr. Taggart! 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...
PullMyFinger Posted October 26, 2021 Report Share Posted October 26, 2021 I guess it is a good thing that fundamentals do not matter to us technical trading types. Otherwise, we might look askance at trillion-dollar market cap Tesla, with its whopping choice of four EV models and five available exterior colors. GM and Ford on the other hand, global ventures with a dizzying array of models, engine technologies, and options from which to choose, have market caps of $84 and $64 billion respectively. As long as I'm in a mood today, can anyone explain why crapvision.com breathlessly reports on Cathie Wood's every move with fawning adulation? Has anyone looked at that Ark Invest's key holdings? They don't look all that innovative or cutting edge to me. But then again I'm an idiot. Pretty obvious that the older I get, the dumber I get. Would have hoped for the reverse by now, but no such luck. Link to comment Share on other sites More sharing options...
DrStool Posted October 26, 2021 Author Report Share Posted October 26, 2021 Bulls are taking no prisoners. Heavy bear casualties reported on the frontlines. 5 day cycle projection 4620. Run away. Run away. It's just a flesh wound. Bring out your dead anyway. Link to comment Share on other sites More sharing options...
DrStool Posted October 26, 2021 Author Report Share Posted October 26, 2021 2 hours ago, PullMyFinger said: I guess it is a good thing that fundamentals do not matter to us technical trading types. Otherwise, we might look askance at trillion-dollar market cap Tesla, with its whopping choice of four EV models and five available exterior colors. GM and Ford on the other hand, global ventures with a dizzying array of models, engine technologies, and options from which to choose, have market caps of $84 and $64 billion respectively. As long as I'm in a mood today, can anyone explain why crapvision.com breathlessly reports on Cathie Wood's every move with fawning adulation? Has anyone looked at that Ark Invest's key holdings? They don't look all that innovative or cutting edge to me. But then again I'm an idiot. Pretty obvious that the older I get, the dumber I get. Would have hoped for the reverse by now, but no such luck. You're just not godly enough. Repent now! Or forever hold your codpiece. Link to comment Share on other sites More sharing options...
DrStool Posted October 26, 2021 Author Report Share Posted October 26, 2021 Little did I know when I designed the Capitalstool logo that it would predict the direction of the market for the next 21 years. Link to comment Share on other sites More sharing options...
DrStool Posted October 26, 2021 Author Report Share Posted October 26, 2021 Because I think Sunday was the site's 21st birthday. It's like Christmas. Nobody knows when Jesus was born, but everybody believes in Christmas. Even the Jews and Chinese. It's the day all we Jews go out for Chinese food. Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 26, 2021 Report Share Posted October 26, 2021 Ya know, I'm starting to think that being a stock market anal cyst is just like being a realtor. You only need to know two phrases to be successful. "It's a good time to buy, because it's going higher even from these lofty levels", and "It's a good time to buy, because the market is down." And you know what? With a rare exception that maybe lasts a month or so, that has been on the mark for 12+ years now. Like I said, I'm in a mood today. At least I'm godly enough to keep going long most every day. 🤡 Made my weekly target and it's only Tuesday, but man do I feel dirty and like it is undeserved. Shouldn't be this easy. Therefore, I'm heading to the beach. Maybe we get a brief directional change today or something. Catch y'all tamara! Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 26, 2021 Report Share Posted October 26, 2021 Oh, and Happy Birthday to the Stool! 💩🎂 Later! Link to comment Share on other sites More sharing options...
DrStool Posted October 26, 2021 Author Report Share Posted October 26, 2021 2-3 day cycle projection 4602 Link to comment Share on other sites More sharing options...
DrStool Posted October 26, 2021 Author Report Share Posted October 26, 2021 What happened! Link to comment Share on other sites More sharing options...
potatohead Posted October 26, 2021 Report Share Posted October 26, 2021 19 minutes ago, DrStool said: What happened! even the bears were becoming too complacent. At this point Tesla = the market. A little profit taking in Tesla and the whole market gets sick. Link to comment Share on other sites More sharing options...
Mkucstars Posted October 26, 2021 Report Share Posted October 26, 2021 Worked for me. Link to comment Share on other sites More sharing options...
Jimi Posted October 26, 2021 Report Share Posted October 26, 2021 Happy birthday, Stool. Link to comment Share on other sites More sharing options...
Jorma Posted October 26, 2021 Report Share Posted October 26, 2021 Link to comment Share on other sites More sharing options...
MisFit Kid Posted October 26, 2021 Report Share Posted October 26, 2021 Link to comment Share on other sites More sharing options...
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