DrStool Posted May 25, 2022 Report Share Posted May 25, 2022 Looking at this hourly chart of the 24 hour ES fuguetures, we see a market going nowhere fast. Over the past 2 weeks it has made a lower low, a higher high, and every trend permutation imaginable. Yech. Today, once again, the market is making a triangle pattern, which epitomizes indecision. If recent history is our guide it will work it's way out toward the apex, which is at 2940 in the wee hours overnight tonight. In the meantime, the likely trading range starts now from 3910 to 3965. If they escape that noose, we'll get a little bit of a run, until they hit the next resistance or sport level. Whereupon it should reverse yet again. Ugh. Meanwhile, back at the big picture: We Hold Our Gold Miners, Add Another May 24, 2022 Even Steven in This Week’s Swing Trade Screens May 23, 2022 Stocks Are Ahead of the Curve May 23, 2022 Market Indicators Show Crash Risk Remains Intact May 22, 2022 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 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! Will you be the wise person and friend who subscribes today? 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 May 25, 2022 Author Report Share Posted May 25, 2022 Here we go loop de loop. Link to comment Share on other sites More sharing options...
potatohead Posted May 25, 2022 Report Share Posted May 25, 2022 Lee, Since you had a lot of experience in the real estate market. Many refer to Case-Shiller index however, I came across the following site that focuses on any local market. https://www.movoto.com/market-trends/ Are you familiar with Movoto's market trends data? Or is this just an aggregate site of various stats. Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 2 hours ago, potatohead said: Lee, Since you had a lot of experience in the real estate market. Many refer to Case-Shiller index however, I came across the following site that focuses on any local market. https://www.movoto.com/market-trends/ Are you familiar with Movoto's market trends data? Or is this just an aggregate site of various stats. Not familiar with it but it looks like a Zillow/Redfin/Realtor.com type of thing. They are apparently using MLS data for their local market data. It's the only data source that is that granular. They report average selling price for the market area, but their graphs show average list price. I saw nothing on the methodology they are using. But it appears to be regurgitating MLS data at the most granular level. Seems good enough. Can get similar local data from Redfin, Zillow, or Realtor.com. They all source from MLS. Your local MLS may also have a local website with that data. MLS data is the most comprehensive and most timely data in the market. It's far more reliable and timely than Case Shiller or FHFA. Listing price data is as good as selling price in terms of showing the trends. Just figure that its around 5-10% higher than avg selling prices. Link to comment Share on other sites More sharing options...
Jorma Posted May 25, 2022 Report Share Posted May 25, 2022 I happened to look at a TNX weekly chart and got a little scared. Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 With a look at the 2 hour bars you can see the failed breakout on this VITL. Very Important Trendline. Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 Zooming in to one hour you can see that 2 bars were partly above the line. Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 But alas they are still working toward trickling out the apex of the triangle. In Memoriam Dick Trickle Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 This is a pregnant pattern. But what will it be? Bull or bear? Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 Link to comment Share on other sites More sharing options...
Jimi Posted May 25, 2022 Report Share Posted May 25, 2022 1 hour ago, DrStool said: Well then. That was spirited. Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 13 minutes ago, Jimi said: Well then. That was spirited. Can I call that a ringing endorsement? Link to comment Share on other sites More sharing options...
Jimi Posted May 25, 2022 Report Share Posted May 25, 2022 My eldest started at the local public high school this year. It's a gritty place. They've had three lock-downs so far. The first was because a dispute in the library between two kids resulted in one flashing a gun. Security intervened and no one was injured. The second involved a kid who'd either graduated or been previously kicked out who was observed having hopped a fence and was on foot on campus wearing a backpack. Cops arrived and he was detained. The third involved a break-in to a neighboring house, and when the perp fled, the police weren't sure whether he was armed and whether he'd made his way onto campus across the street to hide... that lockdown also impacted a nearby elementary school, because they weren't sure where the guy had gone. The school sends out an immediate robocall & email when these events happen, and then we get texts from our son from inside the classroom where he is, barricaded with classmates behind a locked door and with shades drawn. The three-way texts between him and my wife & me during these episodes are filled with dark humor. I reminded him last week in the wake of the last episode that despite our family's particular macabre text-management, when there's a lockdown, he needs immediately to focus on his available "Run, Hide, Fight" options. Because we want him to come the fuck home. Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 Again on the brink of breaking a 3 week downtrend line. Clearing 3985 would have a measured move target of 4140. Link to comment Share on other sites More sharing options...
DrStool Posted May 25, 2022 Author Report Share Posted May 25, 2022 6 minutes ago, Jimi said: My eldest started at the local public high school this year. It's a gritty place. They've had three lock-downs so far. The first was because a dispute in the library between two kids resulted in one flashing a gun. Security intervened and no one was injured. The second involved a kid who'd either graduated or been previously kicked out who was observed having hopped a fence and was on foot on campus wearing a backpack. Cops arrived and he was detained. The third involved a break-in to a neighboring house, and when the perp fled, the police weren't sure whether he was armed and whether he'd made his way onto campus across the street to hide... that lockdown also impacted a nearby elementary school, because they weren't sure where the guy had gone. The school sends out an immediate robocall & email when these events happen, and then we get texts from our son from inside the classroom where he is, barricaded with classmates behind a locked door and with shades drawn. The three-way texts between him and my wife & me during these episodes are filled with dark humor. I reminded him last week in the wake of the last episode that despite our family's particular macabre text-management, when there's a lockdown, he needs immediately to focus on his available "Run, Hide, Fight" options. Because we want him to come the fuck home. Only in America. So goddam fucking sad. Link to comment Share on other sites More sharing options...
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