DrStool Posted May 5, 2022 Report Share Posted May 5, 2022 The hourly ES S&P500 24 hour futures chart failed to hit the 5 day cycle projection of 4325 late yesterday. It also failed to break through the top of what would be an impressive base for a move higher. That level is 4310. The pullback since the high of 4305 has been minimal however. A breakout is still within striking distance and becomes more and more likely the longer the market hangs around above 4250. That's the number the bears need to retake to have a shot at regaining control of the narrative in the short run. The rationale for the rally is bogus, but it won't matter if they get past 4310. That would have a measured move target of 4550 over the next couple of days April Tax Collections Still Running Red Hot Mean That Fed Must Get Tighter May 4, 2022 Time to Catch Gold Knives May 3, 2022 The Fed is Tightening Into a Sheet Storm May 2, 2022 Swing Trade Screens Yield A Boatload of Short Sales May 2, 2022 Market Outlook Going from Bad to Worse, Fast May 1, 2022 Tons of Cash, Not In Use, Signals this Huge Change in the Market April 23, 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 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...
Jorma Posted May 5, 2022 Report Share Posted May 5, 2022 Don't look up. Just buy. Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 Testing. Testing. This is only a test. Do not adjust your set. Regular programming will resume upon the completion of this test. Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 The geuro has given back all of the Post Powell Pop. Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 The Treasury market doesn't care what Powell says, or how the other markets react. It obeys the law. The Law of Supply and Demand. April Tax Collections Still Running Red Hot Mean That Fed Must Get Tighter May 4, 2022 The Fed is Tightening Into a Sheet Storm May 2, 2022 Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 Bitcoin perches perilously on the precipice. Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 Next stop 3.30. In a heartbeat. LIQUIDITY TRADER- MONEY TRENDS Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 I told you I wouldn't be surprised. But I am. Kinda. Pleasantly. Link to comment Share on other sites More sharing options...
Jimi Posted May 5, 2022 Report Share Posted May 5, 2022 What goes up. Must come down. Spinnin' wheel Powell is a clown.... Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 Yes, and another trendline under attack ack ack ack you oughta know by now. Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 BTC shits the bed. Next target 33,500. Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 This is the most important chart illustration in the world because it shows you exactly what's happening to the bond inventories of the Primary Dealers and the bond holdings of every other big bank and anyone who matters on Wall Street. And they are all leveraged to the top of the toilet. Link to comment Share on other sites More sharing options...
Jimi Posted May 5, 2022 Report Share Posted May 5, 2022 Where have all the brontoformations gone? Long time passing. Where have all the brontoformations gone? Long time ago. Where have all the brontoformations gone? The Fed has piked them every one. Oh, When will you ever learn? Oh, When will you ever learn? Link to comment Share on other sites More sharing options...
DrStool Posted May 5, 2022 Author Report Share Posted May 5, 2022 What we lack in quantity, we make up for with quality. Link to comment Share on other sites More sharing options...
Jorma Posted May 5, 2022 Report Share Posted May 5, 2022 The base of the Karl Malden pattern is under repeated attack. Link to comment Share on other sites More sharing options...
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