DrStool Posted June 29, 2022 Report Share Posted June 29, 2022 The ES S&P 24 hour fuguetures have a 5 day cycle projection of 3780 on the hourly chart. It doesn't guarantee that they'll get there. There's trend support at 3800. But if that breaks, the next trend support is around 3765-70. It looks like a more likely target than 3880. Any bounces that don't clear 3830 would suggest more downside ahead. Conversely, if 3800 holds, and then they break 3830, fasten your seatbelts for a rocket ride to 3900 again. Meanwhile the crypto kids can't seem to get it going, with BTC on the way to a 1 year cycle projection of 9-12k and a long term measured move target of 5000 below zero. And the 10 year yield is still firmly ensconced in its uptrend channel, despite the big pullback this month. There's a huge coupon settlement coming tomorrow, only partly offset by T-bill paydowns. It will be a big test. Meanwhile, for gold bugs, Gold Nears Triggers That Would Signal Brutal Outlook. Follow how pre-determined and known liquidity flows drive stock and bond prices here . I will show you and tell you exactly how the major forces of macro liquidity move not just the bond market, but stocks as well. Liquidity analysis sets the context for technical analysis. It helps us to narrow the focus of our chart reading to the outcomes that are most likely, given the circumstances. To better understand the big picture right now so that you can take the correct action when the time is right, check out the following: Gold Nears Triggers That Would Signal Brutal Outlook June 29, 2022 Stocks Are Even More “Dover Sole” Versus Liquidity June 28, 2022 Bulls Have Hope This Week, Bears Wary of Pump June 27, 2022 The Spike Is Here, So Here’s What to Expect June 26, 2022 We Knew QT Would Be Devastating, But You Ain’t Seen Nothing Yet June 21, 2022 Dealers Assume the Position, as 75 BPs Coming Wednesday June 13, 2022 The US Economy, Including Jobs, Collapsed in May June 2, 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 29, 2022 Report Share Posted June 29, 2022 Fed boss Jerome Powell: Soft landing is feasible but will be 'quite challenging' https://seekingalpha.com/news/3852851-fed-boos-jerome-powell-soft-landing-is-feasible-but-will-be-quite-challenging?source=content_type%3Areact|first_level_url%3Amarket-news|section_asset%3Amain „He admitted that "we now understand better how little we understand about inflation." What he really wanted to say:“We hsve no effing clue, Goddamit!“ 😂😂😂 Link to comment Share on other sites More sharing options...
fxfox Posted June 29, 2022 Report Share Posted June 29, 2022 „Christine!“ „yes, Jay?“ “Call Kuroda and tell him he gotta do something!“ “Ok, what‘s his number?“ “555-W I Z A R D“ 😂😂😂 Link to comment Share on other sites More sharing options...
Jimi Posted June 29, 2022 Report Share Posted June 29, 2022 Psycho-wicks on the 30m bars. Link to comment Share on other sites More sharing options...
DrStool Posted June 29, 2022 Author Report Share Posted June 29, 2022 That's purdy. Still gonna call the 5 day cycle projection 3780, but sport lines are at 3765. Link to comment Share on other sites More sharing options...
Jimbo Posted June 29, 2022 Report Share Posted June 29, 2022 BURNT OFFERINGS Its been fun watching the God of Value wash away the wealth transfer vehicles in the river of reality. But he has only been able to do so because the God of Money (FEDUS) has allowed him too. But for how long will FEDUS resist the desire to medle in monetary affairs and feed the asset markets print addiction. Only time and stress in the bond market will tell. In the meantime the WTV's have been offered up as burnt offerings in the Eccles temple to FEDUS. Link to comment Share on other sites More sharing options...
Jorma Posted June 29, 2022 Report Share Posted June 29, 2022 57 minutes ago, DrStool said: That's purdy. Still gonna call the 5 day cycle projection 3780, but sport lines are at 3765. I see a cliff. Link to comment Share on other sites More sharing options...
Jimbo Posted June 29, 2022 Report Share Posted June 29, 2022 SOME MORE NEEDED ETF's Where are the Crypto short ETF's????? We could even tokenise the idea....... A crypto coin that rises in value as another crypto coin falls in value!!!!! Short Coin!!!! Bust Coin!!! Dust Coin!!! Link to comment Share on other sites More sharing options...
fxfox Posted June 29, 2022 Report Share Posted June 29, 2022 1 hour ago, Jimbo said: SOME MORE NEEDED ETF's Where are the Crypto short ETF's????? We could even tokenise the idea....... A crypto coin that rises in value as another crypto coin falls in value!!!!! Short Coin!!!! Bust Coin!!! Dust Coin!!! There is one in the US since June 21: https://www.proshares.com/our-etfs/leveraged-and-inverse/biti/ Symbol: BITI BITCH or BIATCH would have been better 😂✌🏻 In Germany there is one since Jan 2020: https://www.justetf.com/en/etf-profile.html?isin=CH0514065058#overview Link to comment Share on other sites More sharing options...
DrStool Posted June 29, 2022 Author Report Share Posted June 29, 2022 You're shorting something that doesn't exist. BITI is a fund that is short BTC futures. It breaks my brain to try to think of what that means. Link to comment Share on other sites More sharing options...
DrStool Posted June 29, 2022 Author Report Share Posted June 29, 2022 Why not just short the futures? Link to comment Share on other sites More sharing options...
DrStool Posted June 29, 2022 Author Report Share Posted June 29, 2022 And that's the way it is. Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 29, 2022 Report Share Posted June 29, 2022 Is there some "major" report coming out tomorrow? today looked nervous, but "protected" Link to comment Share on other sites More sharing options...
DrStool Posted June 29, 2022 Author Report Share Posted June 29, 2022 End of month Treasury settlement. $79 billion gross. $58 billion net of T-bill paydowns. 13 week bill rate is surging again, back to 1.80, 22 bp above fective fed funds. Link to comment Share on other sites More sharing options...
fxfox Posted June 29, 2022 Report Share Posted June 29, 2022 The whole day looked like constant intervention. Link to comment Share on other sites More sharing options...
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