DrStool Posted November 14, 2022 Report Share Posted November 14, 2022 The Braves, the A's, the Dodgers, the Giants. And that was just baseball. They took the money and ran. 14 hours ago, fxfox said: Seems like the game in Munich was a success. in Europe it is absolutely unimaginable that a club is moved to a other city, but well that‘s why it is not called a „club“ in the US, but „franchise“. I think the very old franchises can‘t be moved, or else the fans would run amok. Guess if ever the owner of the Yankees would move them to LA or so, he would be shot dead the next day or hanged at Times Sqaure. What about the Eagles? How would Philly react? I remember when the Minnesota North Stars were moved to Dallas the fans were very angry. The longest running, continuously operating professional sports franchise in one city? Philadelphia Phillies. What does this have to do with today's stock market? Nothing. It's like the economy, or inflation, or earnings. The market is about whatever hot idea Wall Street is selling at the moment, and how much liquidity is available to sustain that story. The second factor is by far the more important. The fact is that the Fed is still tightening which means that liquidity continues to grow more scarce. Any rallies must eventually face that reality. How do we know when "eventually" is? Easy. When you come to a fork in the road, take it. A look at the 24 hour ES, S&P fugutures tells us that they haven't yet stuck a fork in this rally. For starters, they would need an hourly close below 3969. That doesn't look imminent. There's still a 5 day cycle projection of 4030 hanging out there. Then we'll see. First, a look at the 5 hour bars to show you just how significant this 4015-4030 area is. And the usual hourly view shows the current sport levels. The magic 8 ball test says, Poised for breakout. Click the links below for moron the markets. The Repeal of Rule Number One, Don’t Fight the Fed November 14, 2022 Bond Market Rally is Technically Valid but Belies the Facts November 12, 2022 Gold Slot Racing Leading Nowhere November 8, 2022 Swing Trade Screen Picks –100% Buys – Yikes! November 7, 2022 What To Do About an Anxiety Ridden, Conflicted Market November 7, 2022 Bad News for the Markets – Not Just Withholding Boomed in October November 3, 2022 Surge in Withholding Tax Collections in October Indicates Faster Jobs Growth November 2, 2022 Signs of an Intermediate Bottom in Gold Falter November 2, 2022 Bear Market Isn’t the Mirror of a Bull October 31, 2022 We Can Now Project When Fed Will Pause, But Not Reverse October 13, 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...
potatohead Posted November 14, 2022 Report Share Posted November 14, 2022 Lee, Thought you may like this. Unexplained tax revenue growth vexes budget scorekeepers https://rollcall.com/2022/06/01/unexplained-tax-revenue-growth-vexes-budget-scorekeepers/ Link to comment Share on other sites More sharing options...
fxfox Posted November 14, 2022 Report Share Posted November 14, 2022 Amazing dot bomb gives 10,000 the shaft boot. Link to comment Share on other sites More sharing options...
DrStool Posted November 14, 2022 Author Report Share Posted November 14, 2022 2 hours ago, potatohead said: Lee, Thought you may like this. Unexplained tax revenue growth vexes budget scorekeepers https://rollcall.com/2022/06/01/unexplained-tax-revenue-growth-vexes-budget-scorekeepers/ I just observe and report the facts. Why this is happening is above my pay grade. Besides, nobody knows especially the fin media. Their job is to get us to buy subscriptions to them wasting our time. We merely need to be chartists. Identify the trend, consider the implications, decide how to play it, and ride it until it gives clear signs of reversal. I note that this article is from a publication that no one outside the Beltway has heard of. And yet it's about a topic that is one of the 3 pillars of understanding liquidity, which is the most important thing you can do if you want to get the market right. The mainstream fin media, the Wall Street captured hand job maidens, never, ever report on the subject. They report the monthly deficit as a news item of little interest to anyone. It's trivial esoterica to them. Link to comment Share on other sites More sharing options...
DrStool Posted November 14, 2022 Author Report Share Posted November 14, 2022 It's also from June. Revenue growth has gradually slowed since then. Link to comment Share on other sites More sharing options...
fxfox Posted November 14, 2022 Report Share Posted November 14, 2022 Just google the vita of Poopwell and you know that he never ever will go full Volcker style. Link to comment Share on other sites More sharing options...
Jorma Posted November 14, 2022 Report Share Posted November 14, 2022 18 minutes ago, fxfox said: Just google the vita of Poopwell and you know that he never ever will go full Volcker style. Volker couldn't do a Volker, now. Link to comment Share on other sites More sharing options...
Jorma Posted November 14, 2022 Report Share Posted November 14, 2022 FTX had a lot of parts. Each of which is filing for bankruptsy. https://seamushughes.substack.com/p/court-watch-2?r=1704o Link to comment Share on other sites More sharing options...
DrStool Posted November 14, 2022 Author Report Share Posted November 14, 2022 Well, now this isn't ending well, is it? Link to comment Share on other sites More sharing options...
DrStool Posted November 14, 2022 Author Report Share Posted November 14, 2022 This is the low. Link to comment Share on other sites More sharing options...
Jimi Posted November 14, 2022 Report Share Posted November 14, 2022 Hourly close below 3969 Link to comment Share on other sites More sharing options...
DrStool Posted November 14, 2022 Author Report Share Posted November 14, 2022 The fact that they couldn't even make it to 4015 may be significant. Or it may not. Or it may. It could mean something. Or it might not. We'll just have to see. Then we'll see. But nobody could have seen it. Because nobody knows nothing. On that note, bonne nuit et bonne chance. Laissez les bon temps rouller. Link to comment Share on other sites More sharing options...
Jorma Posted November 14, 2022 Report Share Posted November 14, 2022 Last Thursday might have been the slinkiest move ever. I mean the massive moves across all asset classes in a matter of seconds on one perfectly ordinary 'number' was, well stinky. It didn't even help the Feds agenda. In fact it hurt it and some Fedhead was on the wire today saying one number isn't going to sway the Fed. Who didn't know that? Link to comment Share on other sites More sharing options...
fxfox Posted November 14, 2022 Report Share Posted November 14, 2022 https://www.forexlive.com/news/us-authorities-charge-sp-ratings-marketing-considerations-influence-ratings-20221114/ Link to comment Share on other sites More sharing options...
fxfox Posted November 14, 2022 Report Share Posted November 14, 2022 16 minutes ago, Jorma said: Last Thursday might have been the slinkiest move ever. I mean the massive moves across all asset classes in a matter of seconds on one perfectly ordinary 'number' was, well stinky. It didn't even help the Feds agenda. In fact it hurt it and some Fedhead was on the wire today saying one number isn't going to sway the Fed. Who didn't know that? Waller: https://www.forexlive.com/centralbank/feds-waller-dismisses-us-cpi-report-as-just-one-data-point-markets-way-out-in-front-20221113/ but a few hours later Madamme Braindead: https://www.forexlive.com/centralbank/feds-brainard-within-core-cpi-finally-starting-to-see-goods-inflation-turn-20221114/ Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.