DrStool Posted April 28, 2022 Report Share Posted April 28, 2022 I'm now safely ensconced in my new permanent home in Nice, and it's time to get to work! We had yet another bear market rally overnight, on meta earnings. There is of course a difference between meta earnings and real earnings. I'll leave that discussion to the funny mentalists. Here's the main meal, the TA for today. I've drawn a new tentative downtrend channel on the hourly chart of the 24 hour ES S&P futures. That will give you an idea of where I think this is headed. If they don't clear 4250 straight away, then I expect we'll see 4175 again PDQ. Then we'll see! And for the big picture: Swing Trade Chart Pick Screens Flip Flop April 25, 2022 Ugly Whipsaw Revives Crash Potential in Stocks April 25, 2022 Tons of Cash, Not In Use, Signals this Huge Change in the Market April 23, 2022 Sell Gold in May and Go Away? April 19, 2022 Primary Dealers Still Long and Wrong, But A Gift Rally Looms! April 11, 2022 Why March Withholding Taxes Showing Red Hot Economy Is Bearish April 3, 2022 Fragile and Dangerous Semi Blind Spot March 28, 2022 If you're serious about the underlying forces of supply and demand that drive the markets, join me! 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 April 28, 2022 Author Report Share Posted April 28, 2022 I present the euro chart without comment. What's there to say. The picture says it all. Link to comment Share on other sites More sharing options...
DrStool Posted April 28, 2022 Author Report Share Posted April 28, 2022 Today's episode of, As the T-bill Turns (so goes the Fed). Thou shalt not fight the Fed. Link to comment Share on other sites More sharing options...
DrStool Posted April 28, 2022 Author Report Share Posted April 28, 2022 The 10 year is now targeting three point uh oh. Be in the know. Get the blow by blow. Link to comment Share on other sites More sharing options...
DrStool Posted April 28, 2022 Author Report Share Posted April 28, 2022 Gold got sold, but will it hold? Check here to find out. Link to comment Share on other sites More sharing options...
Jimi Posted April 28, 2022 Report Share Posted April 28, 2022 1 hour ago, DrStool said: I present the euro chart without comment. What's there to say. The picture says it all. Wow Link to comment Share on other sites More sharing options...
Jimbo Posted April 28, 2022 Report Share Posted April 28, 2022 WHAT A RIDE The SPXL ETF (3x leveraged index ETF) went from $19 to $146 from 20 March 2020 to 4 Jan 2021. What a rise !!!!!!!!!!!!! A 40% M2 print will tend to do that to a stock index. Particularly a leveraged one. And then it all fell apart. Thats what tapering the big print and instituting some QT (mostly synthetic QT) will do to an overvalued leveraged stock index. Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 28, 2022 Report Share Posted April 28, 2022 On 4/28/2022 at 7:35 AM, DrStool said: Gold got sold, but will it hold? Good morning everyone... I'm going to be tossing my hat into the ring on that very subject myself - today. I just rolled out of bed, so I'm going to rehash this chart right here for a moment or two. I know its boring, probably getting tired of seeing it yet again. It's just the warm up to my chart that I'll be posting within the hour. I need to post a precursor chart to the gold chart first though. Huh? Oh, you'll see....soon enough. When I post a "Reference Chart" I ask you to please take the time to give it the once over and for those serious about adding "arrows to your quiver", please download it for future reference. Just about everything I mention for the next two months will reference these charts. Until then... The window is open from here until the 30th of April at midnight CST. Anything can happen(or not) TCG In light of Doc's comment(or not) on the euro this morning. In the UUP...that res at 27...wasn't even a blip on the radar. Watching 28... Link to comment Share on other sites More sharing options...
DrStool Posted April 28, 2022 Author Report Share Posted April 28, 2022 UUP is a USD Index ETF. Leveraged? Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 28, 2022 Report Share Posted April 28, 2022 Here is the first chart... You'll find out soon enough...my interest doesn't lie in what happens back to the March 23, 2020 lows. My interest lies in the advance from 2009...and below. Best Regards, The CoinGuy oh...and... UUP leveraged? No. Mirrors the contract. Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 28, 2022 Report Share Posted April 28, 2022 Again. To understand most of what I'll be commenting on over the next two months. You'll need the Twin Peaks Reference Chart and it also wouldn't hurt to have a copy of this handy as well. "Did I hear you mention...the whole world depends on the ^HUI pattern chart at this time?" Yes, you did. From my perspective the whole world will follow the ^HUI Master Pattern Chart to its completion. Although, each individual market will vary in "distortion" based on liquidity(and excess). Expect the US to lead in both departments. 75% of all comments will be based on one chart or the other... With that said...if you looked over the Twin Peaks Reference Chart...this should be a walk in the park. Smile... The GLD is in the "RIGHT SIDE" dominant position. I'm going to say it one more time to drive the point home, then never mention it again. Cash. Is. A. Solid. Position. At. This. Time. Later? Not so much. Best Regards, The CoinGuy oh...and... Why do I not follow the gold and silver contract instead of the GLD and the SLV? Simple. One of the five methods I use for analysis(you've seen three so far) depends on up and down volume(over time), as well as the volume being released at the swing points. The contracts fail in their lack of continuity. Link to comment Share on other sites More sharing options...
DrStool Posted April 28, 2022 Author Report Share Posted April 28, 2022 Slot racing. Link to comment Share on other sites More sharing options...
MisFit Kid Posted April 28, 2022 Report Share Posted April 28, 2022 and another 4200 Save Link to comment Share on other sites More sharing options...
DrStool Posted April 28, 2022 Author Report Share Posted April 28, 2022 As illustrated on the 30 minute bars. Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 28, 2022 Report Share Posted April 28, 2022 I'd personally like to see 4310 again. Best, TCG oh...and... next window. May 9-10 Link to comment Share on other sites More sharing options...
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