DrStool Posted September 27, 2022 Report Share Posted September 27, 2022 It looked like a coordinated intervention in Europe this morning, starting around 9 AM Central European time, which is 3 AM in New York. They ramped it pretty good until the ES S&P 500 24 hour fuguetures ran into resistance right at the top of the range of the last two days. Magically, sellers appeared. I remarked yesterday that Friday's late low looked like a 5 day cycle low and that we should expect a little pop and churn for a couple of days. So far, that looks like a good call. And if they can't take out the high, when the ultimately take out the low later today, it's gonna be ugly. For starters, they'd need to take out 3665, and then take out the low at 3645. That would really get the ball rolling downhill. How far down is down? Talking about the next day or two only here, a projection derived from the 5 hour bars suggests 3500. On the other hand, if they break through the top of this range at 3715, the next upside target would only be 3750. Again, just from a day trading perspective. Meanwhile, back at the big picture: Stock Market in Crash Mode September 26, 2022 Markets Face Catastrophe as Dealers Mitigate Too Little Too Late September 26, 2022 Swing Trade Screens – Restrained Bearish Instincts September 20, 2022 Small Comfort for Gold Holders September 23, 2022 Fed Speeds Into Dead Man’s Curve, More Black Tuesdays Ahead September 15, 2022 There Will Be More Black Tuesdays September 14, 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2022 Warnings of August Liquidity Crash Come to Fruition – Here’s What to Do August 28, 2022 Has Rule Number One Been Repealed?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 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 September 27, 2022 Report Share Posted September 27, 2022 Consumer confident like in Lala-Land New Homes Sales upside bomb —> look at TLT 😇 1 Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 27, 2022 Report Share Posted September 27, 2022 36 minutes ago, fxfox said: Consumer confident like in Lala-Land New Homes Sales upside bomb —> look at TLT 😇 it is a wonder that the 30 year "US" is still under 4%...... Link to comment Share on other sites More sharing options...
fxfox Posted September 27, 2022 Report Share Posted September 27, 2022 Smells like market wants to go higher. Too many bears. Gotta shake out weak shorts first. Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 27, 2022 Report Share Posted September 27, 2022 6 minutes ago, fxfox said: Smells like market wants to go higher. Too many bears. Gotta shake out weak shorts first. until AAPL drops......all indexes are marginally? safe....... the last time SPX hit below 3700, AAPL was at 129 Symbol AAPL LastQuoteHelp 153.55 Change +2.78 (+1.84%) Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 27, 2022 Report Share Posted September 27, 2022 Share Buy Backs for 100 150 Alex......... Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 27, 2022 Report Share Posted September 27, 2022 As For the "Bond Market" Dillards (have you heard that name in a long time) Their "Junk" debt is more valuable than US Treasuries (Debt) (even an odd lot sell) ie...Lower yield...... WTF is wrong here? (crowding out?) Link to comment Share on other sites More sharing options...
Jimi Posted September 27, 2022 Report Share Posted September 27, 2022 3 minutes ago, MisFit Kid said: As For the "Bond Market" Dillards (have you heard that name in a long time) Their debt is more valuable than US Treasuries (Debt) (even an odd lot sell) ie...Lower yield...... WTF is wrong here? There's going to be options in that Dillards debt that creates that impression. Strip the options - "Option Adjusted Spread" - and it will reveal a spread to yield curve. For only a brief moment in 2008 did McDonald's debt trade at a discount to the yield curve. It just doesn't happen. Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 27, 2022 Report Share Posted September 27, 2022 I have not seen a Dillards department store (in TX) since the 80's........ Covid must have been very nice to them.... Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 27, 2022 Report Share Posted September 27, 2022 and just a snap shot of the Gary US Bond "Market"........ and as the man said............Submitted for your approval....... Link to comment Share on other sites More sharing options...
fxfox Posted September 27, 2022 Report Share Posted September 27, 2022 DAX new low for the day and the year. if Germany doesn‘t get rid of the Green Maoists soon, DAX will go to 8000 within the next 12-18 months. 1 Link to comment Share on other sites More sharing options...
Jimi Posted September 27, 2022 Report Share Posted September 27, 2022 5 hours ago, DrStool said: And if they can't take out the high, when the ultimately take out the low later today, it's gonna be ugly. For starters, they'd need to take out 3665, and then take out the low at 3645. That would really get the ball rolling downhill. You're a witch. That's the explanation for how you do this. Link to comment Share on other sites More sharing options...
Jimi Posted September 27, 2022 Report Share Posted September 27, 2022 0.95xx Link to comment Share on other sites More sharing options...
sandy beach Posted September 27, 2022 Report Share Posted September 27, 2022 Link to comment Share on other sites More sharing options...
DrStool Posted September 27, 2022 Author Report Share Posted September 27, 2022 6 hours ago, DrStool said: I remarked yesterday that Friday's late low looked like a 5 day cycle low and that we should expect a little pop and churn for a couple of days. So far, that looks like a good call. And if they can't take out the high, when they ultimately take out the low later today, it's gonna be ugly. For starters, they'd need to take out 3665, and then take out the low at 3645. That would really get the ball rolling downhill. Mmmm hmmm. You can observe a lot by watching. 1 Link to comment Share on other sites More sharing options...
Recommended Posts