DrStool Posted December 19, 2022 Report Share Posted December 19, 2022 It's an up phase, but how long and how strong it'll be are the questions. The answers to both are, "not very." For this up phase to get anywhere the boyz first would have to push the ES, 24 hour S&{ futures through resistance at 3872 and 3881. If they did that, the conventional implied measured move would be to 3925. And before the got there, there would be a resistance convergence at 3905 in the first half hour of regular trading in New York. Call me skeptical. If they can't get through 3872, we still have an unmet 5 day cycle projection of approximately 3785 to shoot for. There are vectors toward 3800 first, but I like the one to 3737. I think that if they roll under 3855, we'll be on hour way before New York gets started, and that they'll pile on. For moron the markets, see: The Trend Was the Bears’ Friend December 19, 2022 Swing Trade Screen Picks – Short Stops Killed but Many More Added December 19, 2022 May Gold Be Merciful Unto Us, Amen December 19, 2022 Fed Steadfast But Treasury Throws a Bullish Curve December 14, 2022 Federal Tax Revenues Are Slowing December 6, 2022 Fed Policy Will Stay Bearish Until It’s Too Late November 20, 2022 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 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...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 Playing with the razor's edge. Link to comment Share on other sites More sharing options...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 11 AM. ES down 22 and I'm the only one here all morning. Bearish, I'd say. Link to comment Share on other sites More sharing options...
Jimi Posted December 19, 2022 Report Share Posted December 19, 2022 "Chopped livah" checking in. Link to comment Share on other sites More sharing options...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 Double bottom on the hourly with positive divergences on the indicators, but they are perilously close to rolling over. At this level, it would signal a crash if that happens. Link to comment Share on other sites More sharing options...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 3 minutes ago, Jimi said: "Chopped livah" checking in. Jimmah. Link to comment Share on other sites More sharing options...
WTF Posted December 19, 2022 Report Share Posted December 19, 2022 2 minutes ago, DrStool said: 11 AM. ES down 22 and I'm the only one here all morning. Bearish, I'd say. You could be correct. I have been covering some of my shorts on the downturn looking for a bounce to reload but if everyone is looking for the bounce... does it happen? Will see what the action is like at 3,810. Link to comment Share on other sites More sharing options...
Jimi Posted December 19, 2022 Report Share Posted December 19, 2022 1 minute ago, DrStool said: Jimmah. Happy Hanukkah to all who observe or maybe did once before getting religion on religion. 1 Link to comment Share on other sites More sharing options...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 3 minutes ago, WTF said: You could be correct. I have been covering some of my shorts on the downturn looking for a bounce to reload but if everyone is looking for the bounce... does it happen? Will see what the action is like at 3,810. I've been adding all morning. Heavy now. That may not be a good thing. Link to comment Share on other sites More sharing options...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 I am 45% Short, 10% long (mostly O&G), 45% Caisse. Link to comment Share on other sites More sharing options...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 Not correct. 45, 20, 35. Link to comment Share on other sites More sharing options...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 Another 4% short from caisse. Link to comment Share on other sites More sharing options...
Jimi Posted December 19, 2022 Report Share Posted December 19, 2022 1 minute ago, DrStool said: Not correct. 45, 20, 35. "36, 24, 36... a winning hand!" Link to comment Share on other sites More sharing options...
DrStool Posted December 19, 2022 Author Report Share Posted December 19, 2022 6 minutes ago, Jimi said: "36, 24, 36... a winning hand!" Sick! 😄😄😄 Link to comment Share on other sites More sharing options...
WTF Posted December 19, 2022 Report Share Posted December 19, 2022 I am now 60% short, 40% cash. I am very bearish on this market and am looking for it to be much lower a month from now but am looking for a bounce to suck in more bulls and to give me a chance to reload (I hope). Link to comment Share on other sites More sharing options...
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