Jump to content

Monkees Choke the Bears 10/27/22

Recommended Posts

Every time the bears look like they might get one off this week, they get squeezed. It's 4 AM New York time, as I type this, that time of night where things happen, and here we are again. The ES 24 hour S&P futures are right at that line that must not be crossed. It's currently at 3834 and turning flat. Bears need to break that with authoritah, or else we're right back at the onset of yet another upsurge. 

And if they subsequently don't break 3825, then we still face the likelihood of another rally to new highs before the day ends. And even if they do break 3825, there would only be clear air down to 3800, where fools would again rush in, mostly remnants of the short brigade who will take the opportunity to cover yet again. 

In "short," the chart looks to be a long way from a sustained downturn in terms of the intraday time frames on which we focus here. 


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

  • Replies 66
  • Created
  • Last Reply

Heading home to Nice today. Toulouse is a wonderful city. If you come to France, it's worth a two day visit for sure.

Of course, for Nice and surrounding region, you need a week or 10 days. 😊

Let me know in advance if you're coming! 


Link to comment
Share on other sites

European rates are still massively negative. I don't know enough about how this market functions to make any extended guesses, but I do think that they have a long way to go before they reverse capital flows. 

Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...