DrStool Posted December 16, 2021 Report Share Posted December 16, 2021 The American Society of Stocktologists (ASS) brings you this 2 hour bar chart of the ES, S&P 5+495 fugutures for perspective. At 6:30 AM in New York, as US traders arrived at their screens, a breakout was in progress. The conventional measuring implication of this base is, ahem... 4980 Do I hear 5,000? Now for the usual hourly bars. It's just as bad. We have a nice little meltup channel working. Only needs to be below 4765 by the NY open to break it. But there's a 5 day cycle projection of 4,800 that would be the target for today. First needs to clear resistance at 4760 and 4770. Meanwhile, the big picture. Swing Trade Screens – More Buys Than Sells Again This Week Here’s Why Not to be Dumbfounded in Disbelief Prepare for Market Doom, the Moment of Truth Is Here Reason for Hopeful Pessimism on Gold Why It’s Big Trouble that Real Time Tax Data Shows Economy Still Growing Fast When the Fed Balance Sheet Will Hit the Fan 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 December 16, 2021 Author Report Share Posted December 16, 2021 Bit of a battle joined here just after they cracked the high. Link to comment Share on other sites More sharing options...
Jorma Posted December 16, 2021 Report Share Posted December 16, 2021 You have to hand it to them, TNX is actually down a few ticks right now. Link to comment Share on other sites More sharing options...
BreakOut Posted December 16, 2021 Report Share Posted December 16, 2021 I remember TNX hit 5.1 about 15 years ago and have been waiting for it to get back there ever since. I’m a patient guy, but… Link to comment Share on other sites More sharing options...
DrStool Posted December 16, 2021 Author Report Share Posted December 16, 2021 I was away for a bit. Stock Proctologist question of the day. Is this the finger? Link to comment Share on other sites More sharing options...
DrStool Posted December 16, 2021 Author Report Share Posted December 16, 2021 1 hour ago, Jorma said: You have to hand it to them, TNX is actually down a few ticks right now. $209 billion gotta go somewhere. Link to comment Share on other sites More sharing options...
DrStool Posted December 16, 2021 Author Report Share Posted December 16, 2021 3 minutes ago, DrStool said: $209 billion gotta go somewhere. Of course, this is the end, my friends. Prepare for Market Doom, the Moment of Truth Is Here Link to comment Share on other sites More sharing options...
potatohead Posted December 16, 2021 Report Share Posted December 16, 2021 Lee, not sure if you want to do an interview to clear up this nonsense about QE, primary dealer system, and bond market. Would you mind if I introduce you to Tom Bodrovics at Palisade Gold Radio. He is a very good interviewer. I have been on his show a few times. He hates glamor and hype and is always trying to get good objective information to his listeners. Link to comment Share on other sites More sharing options...
DrStool Posted December 16, 2021 Author Report Share Posted December 16, 2021 5 day cycle projection has pulled back to 4765, still way above today's high. Link to comment Share on other sites More sharing options...
DrStool Posted December 16, 2021 Author Report Share Posted December 16, 2021 Just now, potatohead said: Lee, not sure if you want to do an interview to clear up this nonsense about QE, primary dealer system, and bond market. Would you mind if I introduce you to Tom Bodrovics at Palisade Gold Radio. He is a very good interviewer. I have been on his show a few times. He hates glamor and hype and is always trying to get good objective information to his listeners. Sure. I'll answer questions about my own work from anybody. The bigger the audience the better, of course. Hopefully, they would not ask my take on what other people said. And my knowledge of and interest in gold is limited to the TA. But yes, I'd be happy to. Link to comment Share on other sites More sharing options...
DrStool Posted December 16, 2021 Author Report Share Posted December 16, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted December 16, 2021 Author Report Share Posted December 16, 2021 Now that the debt ceiling dirty deal is done. Here it comes. No Santa rally this year, kids. Bulls don't know it yet, but they are fucked. Treasury just posted. $145 billion in net new issuance in 2 days next week. Prepare for Market Doom, the Moment of Truth Is Here Link to comment Share on other sites More sharing options...
DrStool Posted December 16, 2021 Author Report Share Posted December 16, 2021 RRP slush fund surged on yesterday's T-bill paydown. It's now over $1.6 trillion. That buys them a lot of time. It's enough to cover the deficit for 8-9 months. Doesn't mean that all of it will be available though. Prepare for Market Doom, the Moment of Truth Is Here Link to comment Share on other sites More sharing options...
Mkucstars Posted December 16, 2021 Report Share Posted December 16, 2021 DOOM!!! Is rather good for my PM miners. Very good! My personal best day ever today. Link to comment Share on other sites More sharing options...
Jimi Posted December 16, 2021 Report Share Posted December 16, 2021 Link to comment Share on other sites More sharing options...
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