DrStool Posted June 7, 2022 Report Share Posted June 7, 2022 I'm talking about buttcoin (BTC). This sucker is getting ready to drop its load, big time. First it has to suck in all the buttcoin bulls. It does that with those repeated pops every time it pierces apparent sport 30K. But watch out buttcoin fans. You're about to get sheet upon. Meanwhile, the 13 week T-bill, which trades in the closest semblance to a free market that considers how much liquidity is really in the system, is showing the Fed the way toward it's next phony "rate increase." The Fed sets policy by controlling the supply of money relative to demand. The market sets rates accordingly. The Fed's rate setting FOMC announcements are just a sideshow for public consumption. The Fed pretends that QT is secondary and that rate setting is what matters. The Wall Street hoodlums and captured media lackeys buy that story, hook, line, and sinker. Meanwhile, rates have already moved in response to the initiation of QT, and this will continue until the Fed reverses course on its new policy of withdrawing money from the banking system and extinguishing it. Quantitative Tightening is Here, and the Effect Will Be Devastating Meanwhile, we're at the stage for the stock market where it's virtually impossible to care less as the ES 24 hour S&P fuguetures sleepwalk through this seemingly interminable trading range on the hourly chart. They need to drop below 4073 to get anything going on the downside. And they would need to clear 4125 to see any extension on the upside. Nah gah dah for the latter, me thinks. Meanwhile, back a the big picture, if you need to clear your mind of all the stuff that Wall Street is feeding you, by all means, take a subscribatory. It will give you fast, fast, fast relief of your symptoms of discomfort and sluggishness. And remember, if you're new, you can try first 90 days of cleansing, risk free. And I would definitely appreciate it if you at least tried it! Swing Trade Screens – Dipping A Short Toe Before the Next Big Wave June 6, 2022 Here’s Why It’s Too Soon to Go Short Again (Mostly)June 6, 2022 The US Economy, Including Jobs, Collapsed in May June 2, 2022 Quantitative Tightening is Here, and the Effect Will Be Devastating June 1, 2022 A Great Week for Swing Trade Screen Picks May 31, 2022 Stocks Are Ahead of the Curve May 23, 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...
fxfox Posted June 7, 2022 Report Share Posted June 7, 2022 The question is: When will the FED step in? Where is the so called "FED Put"? Months ago consensus was "3850". Why? Because that's those goddam "below -20% from the high is a bear market", thats those 3850, the low was exactly at -19.92% 😄 Never ever was that THE low. In my view - as long as the market goes down somewhat orderly - the FED won't step in till we reach -50% from the high, in NDX even somewhat more. But I also think that they will defend the Covid-lows at any cost and keep their powder dry till then. Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 Must... Not... Break... Sport Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 1 minute ago, fxfox said: The question is: When will the FED step in? Where is the so called "FED Put"? Months ago consensus was "3850". Why? Because that's those goddam "below -20% from the high is a bear market", thats those 3850, the low was exactly at -19.92% 😄 Never ever was that THE low. In my view - as long as the market goes down somewhat orderly - the FED won't step in till we reach -50% from the high, in NDX even somewhat more. They will defend the Covid-lows and keep their powder dry till then. Speculating about what the Fed will do and when is a waste of time. There are many scenarios that might be. Focus on the trend that is. Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 Rockabye baby... Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 Resistance convergence and likely target and pivot area, 4151 Link to comment Share on other sites More sharing options...
Jimi Posted June 7, 2022 Report Share Posted June 7, 2022 This is intriguing: https://www.twitlonger.com/show/n_1ss24a6 I’m looking forward to it. Link to comment Share on other sites More sharing options...
potatohead Posted June 7, 2022 Report Share Posted June 7, 2022 1 hour ago, Jimi said: This is intriguing: https://www.twitlonger.com/show/n_1ss24a6 I’m looking forward to it. one of the best things I have read all year. Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 2 hours ago, DrStool said: Resistance convergence and likely target and pivot area, 4151 Went through like a hot knife through buddah. Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 2 hours ago, Jimi said: This is intriguing: https://www.twitlonger.com/show/n_1ss24a6 I’m looking forward to it. I read it. Did not understand any of it. And did not believe one single word. It's gibberish, nonsense. The guy is getting his rocks off. That's my take. We'll see, I guess. Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 39 minutes ago, potatohead said: one of the best things I have read all year. Hmmm. I don't know about that, but I think it's fiction. I'll be interested to see if any of this actually happens. Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 5 day cycle projection 4195-4200. Link to comment Share on other sites More sharing options...
fxfox Posted June 7, 2022 Report Share Posted June 7, 2022 6 minutes ago, DrStool said: Hmmm. I don't know about that, but I think it's fiction. I'll be interested to see if any of this actually happens. Think so too. Like that Armstrong guy, who was often quoted 10-15 ywars ago. Story was he is sitting in prison and can read the stock market due too extraterestrical knowledge or crap like that. btw: Where is Prechter? 😂 Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 But three trendlines 4165-70 form a wall of resistance. A demain! Link to comment Share on other sites More sharing options...
DrStool Posted June 7, 2022 Author Report Share Posted June 7, 2022 3 minutes ago, fxfox said: Think so too. Like that Armstrong guy, who was often quoted 10-15 ywars ago. Story was he is sitting in prison and can read the stock market due too extraterestrical knowledge or crap like that. btw: Where is Prechter? 😂 Bearish all the way up from March 2020, then turned bullish at the top. Link to comment Share on other sites More sharing options...
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