DrStool Posted September 29, 2022 Report Share Posted September 29, 2022 Fed policy reversal is another thing altogether. Rules Number One and Two are immutable and eternal. Don't Fight the Fed. The trend is your friend. Here's the ES, S&P 24 hour fugutures as of 9:50 AM in Paris and Frankfart, 8:50 in Londone, and 3:50 in New Yak. US traders will wake up to a surprise, except those on the west coast who stayed up late. Here's a question. What does a megaphone pattern at a low mean? I can't recall seeing that before. They're common on the way up and at tops of course. But at lows? If you remember one, post a chart. Many tanks! Meanwhile, back at the big picture: Swing Trade Screens – Getting Shorter, Life Must be Lived! September 27, 2022 Stock Market in Crash Mode September 26, 2022 Markets Face Catastrophe as Dealers Mitigate Too Little Too Late September 26, 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2022 Warnings of August Liquidity Crash Come to Fruition – Here’s What to Do August 28, 2022 Has Rule Number One Been Repealed?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...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 The BoE intervention on British Gilt, not to be confused with Catholic guilt or Jewish guilt, ran into sellers at 97.25 on their fugutures. The hourly chart is worth watching. The 97.50-98.50 gap remains unfilled. Something to watch this morning. Needless to say, a failure to clear this would require coordinated multinational intervention when this collapse ignites contagion. When the margin man comes calling, you sell whatever is in the kitchen sink. That includes particularly US Treasuries and US stocks. Watch the 4% level on the 10 year. In the short run, it should hold, but if not, I'd look for 4.40 fast. Markets Face Catastrophe as Dealers Mitigate Too Little Too Late Link to comment Share on other sites More sharing options...
fxfox Posted September 29, 2022 Report Share Posted September 29, 2022 No doubt the BoE is far far less important and influentual than the FED. The attack by Soros on the GBP in 1992 is a good exsmple: There were almost no global implications, it was more or less an isolated Britain thing. Regarding the 1 hour Gilt chart: See, if they really would have this under full control they would have made an gap up this morning to paint an island bottom, THAT would have been a powerfull sign. Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 If the ES holds at 3662, we have an uptrend on a 5 day cycle basis. Otherwise, no. Stock Market in Crash Mode Link to comment Share on other sites More sharing options...
Jorma Posted September 29, 2022 Report Share Posted September 29, 2022 Excellent cliff formations on the 1 minute chart. Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 They are blowing chunks. Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 The market is a little thin. Link to comment Share on other sites More sharing options...
potatohead Posted September 29, 2022 Report Share Posted September 29, 2022 5 hours ago, DrStool said: The BoE intervention on British Gilt, not to be confused with Catholic guilt or Jewish guilt, ran into sellers at 97.25 on their fugutures. The hourly chart is worth watching. The 97.50-98.50 gap remains unfilled. Something to watch this morning. Needless to say, a failure to clear this would require coordinated multinational intervention when this collapse ignites contagion. When the margin man comes calling, you sell whatever is in the kitchen sink. That includes particularly US Treasuries and US stocks. Watch the 4% level on the 10 year. In the short run, it should hold, but if not, I'd look for 4.40 fast. Markets Face Catastrophe as Dealers Mitigate Too Little Too Late Market is feeling a little guilty today.......sorry just had to say it... Link to comment Share on other sites More sharing options...
fxfox Posted September 29, 2022 Report Share Posted September 29, 2022 New mantra in Corporate Finance: “If you‘ve debt, you‘re dead“. 1 Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 Suckcesspool test of the low, but if it's a right shoulder, it's lower than the left. Kiss of death in a bear market. Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 Some perspective from the ES 5 hour bars. Note that yesterday's rally topped out exactly at the June July lows. Likewise they're holding now at the mid June low of lows. If it gives, big downtrending sport in the 3570 range. Then bakoom! Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 British Gilt, not to be confused with Catholic guilt nor Jewish guilt. Hourly. 1 Link to comment Share on other sites More sharing options...
Jimi Posted September 29, 2022 Report Share Posted September 29, 2022 Why isn't that a reverse H&S on the gilt? Or is it? And if it opened above the close tomorrow, why wouldn't it leave an island bottom? 1 Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 It potentially is, but would have to break out topside to complete, as you pernted out. Or maybe it's just a rebond de chat mort. Wee? 1 Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2022 Author Report Share Posted September 29, 2022 The answer my friends is blowin out the ass. The answer is blowin out the ass. Link to comment Share on other sites More sharing options...
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