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Twerking Through Resistance 11/21/22

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Stock Market Is Grinding Through Resistance -

The question is whether resistance or upside momentum will win. The answer will come this week. Here are the directional signals.

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Disucss below. 

Meanwhile, here at our short attention span dissucs forum, we forcus on the hourly chart of the ES, 24 hour S&P fugutures. We axe, To downtrend, or not to downtrend, that is the querstion. 


The answer is abundantly clear. It is...

Drumroll please...






Let us take note of the fact, however, that the 4 day downtrend is intact, and will remain so unless the boyz take it above 3967 to close any hour today. We should Oslo make a mental note of the fact that there's a turkey in the oven during Tanks giving week. Nobody eats beef, therefore cows get to avoid the slaughterhouse this week. 

Meanwhile, the crypto crappocollapse continues to target much lower levels. 

Short term target 13,500


Longer term target, still 5000 below zero.


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Regarding Rosenberg interview posted yesterday:

Basically he said the FED wants to end the disconnect between real economy and the stock market. He said the FED itself knows that the inflation high is already in and that they use that talk about „fight inflation“ only as carmouflage, so that they have a reason to hike more and hide their real intentions.

He makes many idealistic assumptions such as that till roughly 1982 the stock market was more or less only a refinancing mechanism for corporates. Well, in theory that‘s correct, but in practice we know the speculative element is quite large since hundreds of years.

He said that when you were a broker at Merill in 81 and made a cold call the called guy would immediately hang up or call the police. Means: There was total capitulation.

My thoughts:

Poopwell will NOT be the one who we kill the animal spirits and restore a „healthy“ stock market. He is too much a guy from the finance industry.

At a certain point - at the latest if we would go below 3000 - the pressure on the FED from all sides of the political spectrum will get enormous and they will give in.

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