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They Don't Give Easy - 9/37/22

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That's right. Bulls don't give up. And bears always do, sooner or later, so for those of you looking for and holding shorts, you will need strength of heart, patience, and most importantly, good timing. Because, in the end, timing is everything. Timing is the means. Timing is the end. 

The good news for bears is that the overnight pullback in the ES, 24 hour S&P futures, did manage to eke out a new low before turning up around 3 AM New Yak Time. It sets up the possibility of a head and shoulders top pattern developing. But a 5 day cycle projection of 3715 is left on the table. If they don't hit that, it's a sign of minor strength. 

Approaching 5:30 AM, they're still rising, and have broken the first minor downtrend channel. Minor resistance shows up at 3748 and 3763. Gotta clear those for the bulls to claim victory in the current hourly scrum in the pre market. 

tvc_71fb7473a411090397a74e8833aafb66.png

There are a number of scenarios that seem equally likely in the regular trading hours. These include, in part, up, down, or sideways. If there are any others, I will let you know, but those are the ones I'm seeing at this point. But if the bulls can clear 3787, it would be their ball, and driving. If this market drops under 3720, bears are headed for the score. 

Today is the bears' best shot to keep it going. Saturday belongs to the bulls. 😉

Meanwhile, back at the big picture:

If you're serious about the underlying forces of supply and demand that drive the markets, join me

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Participation rate went up but otherwise it was good news and good news is bad news right now because all anyone cares about is what the Fed will do the first week of November. CPI next week will seal the deal but right now the market says the odds of a 0.75% hike is nearly unanimous at 85%. +45K jobs in professional services; +5K jobs in real estate? They must need a lot of realtors to sell all these California pot farms I guess. :blink:

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9/37/22.....the adlerian calendar

 

Adlerian calendar is calculated by the Market’s movement around a galactic body known as the Federal Reserve. Months are defined by 6 week gestation periods whereby the new calendar month begins and ends with a defining moment where one individual known as the Chairman defines the financial existence for all others.

The Adlerian calendar was derived from the Philadelphian derivative where one individual interprets the scripture of the Chairman and the actions of the Chairman’s committee.  The process of this one select interpreter is also known as Gastrointestinal Epithelium where he guides and protects his followers from the toxic or otherwise harmful luminal contents of this galactic body.

 

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3 hours ago, sandy beach said:

Participation rate went up but otherwise it was good news and good news is bad news right now because all anyone cares about is what the Fed will do the first week of November. CPI next week will seal the deal but right now the market says the odds of a 0.75% hike is nearly unanimous at 85%. +45K jobs in professional services; +5K jobs in real estate? They must need a lot of realtors to sell all these California pot farms I guess. :blink:

The Fed has never raised rates in this cycle. Not once. It is simply following the market, and lagging badly. Its rubber stamp can't keep up with reality. 

z5e94

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