DrStool Posted October 18, 2022 Report Share Posted October 18, 2022 3 hours ago, Jimi said: Think about how utterly incoherent UK fiscal & monetary policy has been the past 6 weeks. We're going to gather ourselves into a bullish lather globally, because... ... we should somehow believe that the freaking policy clowncar there has got it right now and will execute on this new plan? Really? That's the story here? It took me by surprise, I must say, when I saw this yesterday. Oh yeah, my nuts are in vice, and it isn't very nice. The ES 24 hour S&P futures have had a wee reversal in the wee hours around 5:30 AM New Yak time. They hit a 2-3 day cycle projection of 3750 overnight. The dominant intraday pattern cycles are too short and volatile for a clear 5 day cycle projection. The base breakout measures to 3800. They've pulled back to breakout line support at 3714. If that holds, we're still in meltup city. If that holds, we still have the uptrend channel line rising from 3695 to 3705 between 6 AM ET and 10 AM. Unless and until that breaks, anyone heavily short, ahem, ahem, is still in trouble. Swing Trade Screens – Overloaded on the Short Side October 17, 2022 On the Edge of the Abyss, Can the Market Fly? October 17, 2022 We Now Know When and Where Gold Will Bottom October 14, 2022 We Can Now Project When Fed Will Pause, But Not Reverse October 13, 2022 Swing Trade Screens – Plunging in on the Short Side October 11, 2022 Market Reaches Do or Die, Right Here October 10, 2022 Look Out For the Real Fallout of Declining Withholding Tax Collections – Part 2 October 6, 2022 Look Out For the Real Fallout of Declining Withholding Tax Collections October 5, 2022 Swing Trade Screens – Beware! This Swing is Old October 3, 2022 Stocks Have Much At Stake Right Now October 2, 2022 Gold Reason to Hope No Reason for Optimism September 30, 2022 Markets Face Catastrophe as Dealers Mitigate Too Little Too Late September 26, 2022 Fed Speeds Into Dead Man’s Curve, More Black Tuesdays Ahead September 15, 2022 There Will Be More Black Tuesdays September 14, 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...
The CoinGuy Posted October 18, 2022 Report Share Posted October 18, 2022 Good morning everyone... I waited until Monday evening and took a look at my charts. As far as I'm concerned...if we take out the high from Friday(and the futures are currently above the high), I'll consider that a rejection of 3600 and the fulfillment of "Scenario B". For those who haven't read my posts...I'll be sticking with "Scenario B" as I've outlined in the "Poetry in Motion" chart from September 21st(and probably a few posts around that date as well). In short...I a) will be watching 3900, and b) If the market is rejected at 3900, I will consider that the signal of an incoming crash in the stock market. Since we've already had small ripples in the water from across the pond...perhaps that will be ground zero? Although...in our current economic/political environment...out of left field can't be ruled out. After all, everywhere I look...I see crumbling foundations. Best, TCG Here is a copy of "Poetry in Motion" for your convenience... Scenario B... Link to comment Share on other sites More sharing options...
sandy beach Posted October 18, 2022 Report Share Posted October 18, 2022 King dollar is back! Link to comment Share on other sites More sharing options...
The CoinGuy Posted October 18, 2022 Report Share Posted October 18, 2022 From the opening bell... Can't wait to get out of the gate...only to fill the opening gap? Interesting. 3720-2 seems to still be holding some influence... TCG oh...and...uh... TLT...another new low. Link to comment Share on other sites More sharing options...
sandy beach Posted October 18, 2022 Report Share Posted October 18, 2022 I was hoping this was setting up for an island reversal on the daily chart but doesn't look like it so far. Link to comment Share on other sites More sharing options...
DrStool Posted October 18, 2022 Author Report Share Posted October 18, 2022 Wish they would give it up already. Wishing won't do it. Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 18, 2022 Report Share Posted October 18, 2022 5 minutes ago, DrStool said: Wish they would give it up already. Wishing won't do it. 32 point 15M ES bar not enough for ya? 🙂 NQ just coughed up a lung too. Link to comment Share on other sites More sharing options...
DrStool Posted October 18, 2022 Author Report Share Posted October 18, 2022 AAPL cutting its core business, iphone14 production Link to comment Share on other sites More sharing options...
DrStool Posted October 18, 2022 Author Report Share Posted October 18, 2022 Link to comment Share on other sites More sharing options...
PullMyFinger Posted October 18, 2022 Report Share Posted October 18, 2022 Maybe we needed yesterday and this morning's rally so Raphael Bostic could buy some puts. Link to comment Share on other sites More sharing options...
Jimi Posted October 18, 2022 Report Share Posted October 18, 2022 45 minutes ago, DrStool said: AAPL cutting its core business, iphone14 production "Apple... core...." Get it!? Link to comment Share on other sites More sharing options...
fxfox Posted October 18, 2022 Report Share Posted October 18, 2022 One earnings surprise after the other… Netflix beats. It is the same earnings season like in July: We thought lot‘s of warnings would come, but didn‘t. Link to comment Share on other sites More sharing options...
DrStool Posted October 18, 2022 Author Report Share Posted October 18, 2022 Gap up in the afterbirth. Link to comment Share on other sites More sharing options...
Jimi Posted October 18, 2022 Report Share Posted October 18, 2022 23 minutes ago, fxfox said: One earnings surprise after the other… Netflix beats. It is the same earnings season like in July: We thought lot‘s of warnings would come, but didn‘t. Well... as Doc has pointed out periodically, the Fed has remained behind the curve. We'll see how guidance and eventually 4th quarter shapes up. Link to comment Share on other sites More sharing options...
DrStool Posted October 18, 2022 Author Report Share Posted October 18, 2022 What do earnings have to do with the stock market? Absolutely nothing. Link to comment Share on other sites More sharing options...
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