DrStool Posted September 7, 2022 Report Share Posted September 7, 2022 The S&P 500, as shown on the ES futures 24 hour chart, has relentlessly been making lower lows and lower highs on a cycle averaging around 3.75 days. A low is due now, suggesting an upswing for most of the day today. The cycle now ending hasn't been as weak as the two prior ones, so they might pop it through the downtrend. The key trendline will be around 3913 in the first half hour of NY regular trading. To really get things going on the upside, the ES would then need to clear 3920. That should give it enough pop to get to yesterday's triple top at 3960. And if they got through that, then a challenge of the high of the last cycle made last Friday at 4018.6 would be in order. But let's not get ahead of ourselves. There's still an unmet 5 day cycle projection of approximately 3855. That will remain on the table until the downtrend is broken. If they break the overnight low of 3883.8, then I'd be looking for that to happen. I've been visiting the gorgeous city of Lyon the past two days. Excluding Paris, which is in a world of its own, Lyon for me is tied with Lisbon as the most beautiful big city that I have enjoyed in Europe. Today, it's on to Paris for a couple of days. I will post the Gold Trader report before New York opens. This is just the very short term stuff. For the big picture check out the posts below. Swing Trade Screens – 13 Picks, All Shorts, All Winners September 5, 2022 Technical Analysis Confirms the Brutality of Liquidity September 4, 2022 Withholding Tax Collections Collapsed in August But BLS Data Won’t Show It September 2, 2022 Warnings of August Liquidity Crash Come to Fruition – Here’s What to Do August 28, 2022 Gold Miners Swing Picks August 26, 2022 Has Rule Number One Been Repealed? August 18, 2022 “As Good as It Gets” Was Good While It Lasted August 6, 2022 Treasury Confirms Supply Tsunami We Expected – Will Obliterate Everything August 3, 2022 Withholding Tax Collections Solid in July, But Here’s Why the Party is Over August 2, 2022 The Bond Rally That Fooled The Majority And Didn’t Help Dealers July 27, 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...
DrStool Posted September 7, 2022 Author Report Share Posted September 7, 2022 Hourly oscillators say Up! But maybe down. Or maybe up. I'm on the TGV 20 minutes from Paree. Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2022 Author Report Share Posted September 7, 2022 The euro is having a 99 cent sale. Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2022 Author Report Share Posted September 7, 2022 BTC has an 18 handle. Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2022 Author Report Share Posted September 7, 2022 Interesting setup from the Department of BTC Leads, Daily Section. Link to comment Share on other sites More sharing options...
DrStool Posted September 7, 2022 Author Report Share Posted September 7, 2022 Here's where we are as I approach Paris Gare de Lyon. A bientot! Link to comment Share on other sites More sharing options...
The CoinGuy Posted September 7, 2022 Report Share Posted September 7, 2022 One Step at a Time... BTC: Using the standard measuring tool(for declines) I've been using for decades. BTC(and ETH) is still coming up with negative numbers. While I do see quite a bit of support in the 12's and a BTTB area just under...I don't see it stopping there. Perhaps at 10k, it will give us another dose of "roundnumberitis"...and then blow right through? Hmm...I wonder what the March 2020 low(MAGNET) was in Bitcoin? Interesting. Mid four digits...no longer seems to be out of the realm of possibility. I don't know...6500(+650/-650) just has a nice ring to it, but 5,200...now that...that sounds perfect. 5,200 or bust? I'd still like to at least hope that bust has better odds. Again...from my perspective. Bitcoin...is...only the introduction to financial servitude governed by the Fed(and the IRS). TWTR: Despite any shenanigans...15.00 is the 'official' call. 45 is the KEY, above...safe, below...dead in the water. My thought...it wants to get volatile. NVDA: This issue has already cracked the swing point on Volume...and leading the decline. From my perspective. 50 sounds about right. ^HUI: I don't want to help anyone who has interests other than those who would be bullish. I'm going to say, now...Is probably a good time to be watching closely here. Any inversions in trading patterns against the broad market complex or apparent crossing over into a trading range(185-215) are temporary. 150(for now) should contain any downside spike. GLD: Watching 160. Will not comment any further. Action is imminent... Best, TCG oh...and... Full moon on the 10th, open window on the 11th going into the 12th. Patiently waiting for...It. It being the catalyst to "Jump the Creek" in all areas of interest. ^XOI: Speaking of the 11th going into the 12th...I can remember not too many moons ago when the 21st was going into the 22nd(of September). The year was 2011. It was the day the goldbugs fell silent. Although, the week before the silence fell...I'm pretty sure I had been called every name in the book. I believe "complete idiot" was a crowd favorite. I'm just going to park this here as a personal remembrance of that very day... My stump speech was entitled, "The 610 to Nowhere". Hey...how's the ^XOI holding up? Is it still north of 1610, er, uh...1600? Link to comment Share on other sites More sharing options...
Jorma Posted September 7, 2022 Report Share Posted September 7, 2022 The Department of BTC leads must have a staff shortage today. Link to comment Share on other sites More sharing options...
Jimi Posted September 7, 2022 Report Share Posted September 7, 2022 "Whee! We're all gonna be easy-rich again!" Link to comment Share on other sites More sharing options...
fxfox Posted September 7, 2022 Report Share Posted September 7, 2022 Looks like an automated buying programme. Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 7, 2022 Report Share Posted September 7, 2022 8 minutes ago, fxfox said: Looks like an automated buying programme. Flo-Bot Wednesday? TLT, Perferreds, JNK Schwab's Dividend, small cap, broad, and growth indexes.... Look at the N-Sych (or is that Sync?) Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 7, 2022 Report Share Posted September 7, 2022 But none the less.....3880 to 3980 as easy as another Bail-Out Link to comment Share on other sites More sharing options...
fxfox Posted September 7, 2022 Report Share Posted September 7, 2022 4 minutes ago, MisFit Kid said: Flo-Bot Wednesday? TLT, Perferreds, JNK Schwab's Dividend, small cap, broad, and growth indexes.... Look at the N-Sych (or is that Sync?) EUR/USD too, that one is probably the main reason for the move today. DAX was pretty strong all day too. European whales intervene, most likely the ECB itself. Link to comment Share on other sites More sharing options...
fxfox Posted September 7, 2022 Report Share Posted September 7, 2022 What is the „official“ reason today? Can‘t watch CeeNBC on such days… Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 7, 2022 Report Share Posted September 7, 2022 those 3-5 minute rip jobs, all day long in the US QT Right.......🤔 Link to comment Share on other sites More sharing options...
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