DrStool Posted May 18, 2022 Report Share Posted May 18, 2022 This morning I went to the Office for Foreigners here in Nice and had my fourth vaccination, courtesy of the gouvernament. I would like to thank the French people for their generosity. Of course I will be contributing to the tax system also, as of this year. Through the nose, I hear. But it is worth every penny. What a country! I love it. Check out the photos from my neighborhood. All within a 30 minute train or bus ride, or walk, except for Toulon and Hyeres, which are a little road trip from here. Meanwhile, back at the market, we have a little trend break here this morning as of 8 AM in New York, as the premarket trading opens. There's been zero follow through on that big beautiful 5 day base breakout. However, before you bears get too hopeful, if they hold above 4035, no harm, no foul. The uptrend would then likely reassert itself. Below that, bears ball. For the big picture: Gold Miners Make Short Term Bottom, But Wait, There’s More! May 17, 2022 Buys Beat Shorts Again in This Week’s Swing Trade Screens May 16, 2022 Market Rebound Still Leaves Crash Risk Intact May 16, 2022 Dealer Positions Show It’s Not Getting Better and It Should Get Worse May 15, 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...
potatohead Posted May 18, 2022 Report Share Posted May 18, 2022 With Target down big, I had to say it. https://twitter.com/profitsplusid/status/1526936217991802882?s=20&t=mSG0Xi89ZErD2AipXNRFJw Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 2-3 day cycle projection 4005 just about done. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 5 day cycle projection at least 4001. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 And if it doesn't bounce hard, that projection will drop. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 Next sport lines, 3995, 3970-3966. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 5 day cycle projection 3935. 2 hour bars for perspective. Technical Trader - Longer Term Big Picture Lee Adler’s proprietary cycle analysis with market trend and position ideas for investors and weekly individual stock swing trade ideas for traders. Click here to subscribe. 90 day risk free trial! Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 This is a spectacular failure of a bottom that broke out. This could be the crash we've been waiting for. Technical Trader - Longer Term Big Picture Lee Adler’s proprietary cycle analysis with market trend and position ideas for investors and weekly individual stock swing trade ideas for traders. Click here to subscribe. 90 day risk free trial! Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 More perspective. 5 hour bars. Yesterday was a classic return to the scene of the crime rally. This is classic bear market behavior. We've had lower lows for 5 months and the mainstream fin media pundits still won't call it a bear market. Technical Trader - Longer Term Big Picture Lee Adler’s proprietary cycle analysis with market trend and position ideas for investors and weekly individual stock swing trade ideas for traders. Click here to subscribe. 90 day risk free trial! Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 22 minutes ago, DrStool said: 5 day cycle projection 3935. Now make it 3925. Link to comment Share on other sites More sharing options...
Jimi Posted May 18, 2022 Report Share Posted May 18, 2022 3 minutes ago, DrStool said: Now make it 3925. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2022 Author Report Share Posted May 18, 2022 Need to take out 3958.2 on ES, otherwise reverse head and shoulders remains intact. Link to comment Share on other sites More sharing options...
MisFit Kid Posted May 18, 2022 Report Share Posted May 18, 2022 1 hour ago, potatohead said: With Target down big, I had to say it. https://twitter.com/profitsplusid/status/1526936217991802882?s=20&t=mSG0Xi89ZErD2AipXNRFJw Just came back from the grocery store (passed gas stations along the way) I feel angry sick......... Link to comment Share on other sites More sharing options...
Jimi Posted May 18, 2022 Report Share Posted May 18, 2022 Heh! Equity bulls! Either corporations eat their cost increases and suffer margin compression; or they successfully pass those cost increases on to consumers, who then have fewer available dollars to spend on the next corporation. Either way, it doesn't play out well for you in any aggregate. Ergo, your indices will suffer. Link to comment Share on other sites More sharing options...
Jimi Posted May 18, 2022 Report Share Posted May 18, 2022 Grantham on Crapvision Link to comment Share on other sites More sharing options...
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