DrStool Posted December 22, 2022 Report Share Posted December 22, 2022 We can finally say, at 5:15 AM New York time, that the endless uptrend channel on the ES, 24 hour S&P fuguetures, that lasted a whole 2 1/2 days, has been pierced. This follows 5 touches or near touches of the channel's bottom trendline, not including the starting point. It also appears that the idealized 5 day cycle is topping out on schedule. Hourly oscillators have edged over the top and begun to roll over. However, there's more work to be done to finish the job. That includes an hourly close below 3870, and being below that level when New York opens for regular trading. By the same toke in, if the ES holds above 3880 for the next couple of hours and is above 3890 in the first hour in NY, then this channel break will have been just another tease. The uptrend would remain intact until that lower line is broken conclusively. There's still a 5 day cycle projection of 3910 that bears need to worry about. Thing is, if it gets that far, then we'd have an even more impressive base breakout that would have a conventional measured move target of 3995. That's right 3995. Get yours today, before prices go up! OK, just kidding. Trade the charts, whatever the hell that means. In any case, may the farce be with you. 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 22, 2022 Author Report Share Posted December 22, 2022 Well, the line broke, but did the monkey get choked? Link to comment Share on other sites More sharing options...
Jorma Posted December 22, 2022 Report Share Posted December 22, 2022 So TBAC wanted $700bn in the Treasury account at year end? Or just in that direction. Link to comment Share on other sites More sharing options...
DrStool Posted December 22, 2022 Author Report Share Posted December 22, 2022 Not just TBAC, but the Treasury itself. It gives that figure to the TBAC to use in constructing its estimate. It's in the quarterly financing estimate. https://home.treasury.gov/news/press-releases/jy1063 Link to comment Share on other sites More sharing options...
DrStool Posted December 22, 2022 Author Report Share Posted December 22, 2022 I'm headed out for a trip to Lyon for the holidays. Will check in later if possible. If I don't see you before the weak end, have great holidays! Joyeux Noel and Hag Sameach! 🎅🏿 🎄 🕎 Link to comment Share on other sites More sharing options...
Mkucstars Posted December 22, 2022 Report Share Posted December 22, 2022 Nice call there Doctor! Hope you made a mint this morning Link to comment Share on other sites More sharing options...
fxfox Posted December 22, 2022 Report Share Posted December 22, 2022 Greatest speech ever. We would need such a speech from any European Leader to adress it to their populace. First ask yourselve:“What can I do to solve my own problems? Can I educate myself more? Must I work harder? Must I work more? And only then, when you tried your very best, but you can‘t succeed, THEN ask for help by the state NOT before! Instead european politicians give gifts to the people with money which isn‘t there. So they print. More and more and more. Link to comment Share on other sites More sharing options...
Jimi Posted December 22, 2022 Report Share Posted December 22, 2022 4 minutes ago, DrStool said: I'm headed out for a trip to Lyon for the holidays. Will check in later if possible. If I don't see you before the weak end, have great holidays! Joyeux Noel and Hag Sameach! 🎅🏿 🎄 🕎 But… but… You can’t leave us right now! What about the channels, and the stick saves, and the 2-second candles, and the Marty Feldman’s eyeball?!?! Link to comment Share on other sites More sharing options...
Jimi Posted December 22, 2022 Report Share Posted December 22, 2022 1 hour ago, DrStool said: Well, the line broke, but did the monkey get choked? WHAT ABOUT THE MONKEY?! THINK ABOUT THE MONKEY!! Link to comment Share on other sites More sharing options...
Mkucstars Posted December 22, 2022 Report Share Posted December 22, 2022 LOL, they will be here next week too Link to comment Share on other sites More sharing options...
DrStool Posted December 22, 2022 Author Report Share Posted December 22, 2022 1 minute ago, Mkucstars said: Nice call there Doctor! Hope you made a mint this morning I held my 15% short position overnight. Big plunger I am. LOL. We'll see how it goes. I'm leaving, but I'll leave these in place for now. Not a lot of risk. Not much reward either. 😁 Link to comment Share on other sites More sharing options...
DrStool Posted December 22, 2022 Author Report Share Posted December 22, 2022 3 minutes ago, Jimi said: But… but… You can’t leave us right now! What about the channels, and the stick saves, and the 2-second candles, and the Marty Feldman’s eyeball?!?! I put you in charge in my absence. Just follow the yellow... snow. Link to comment Share on other sites More sharing options...
Mkucstars Posted December 22, 2022 Report Share Posted December 22, 2022 My gold got monkey hammered this morning. Someone please take the hammer from the monkey.... Link to comment Share on other sites More sharing options...
DrStool Posted December 22, 2022 Author Report Share Posted December 22, 2022 It's nice to be 15% right, but if I had a full complement, this opening 45 minutes would have made my month and then some. And that's ok... Ciao. Gotta go make my train. Link to comment Share on other sites More sharing options...
Mkucstars Posted December 22, 2022 Report Share Posted December 22, 2022 The Christmas crash... PPT hving an office party today? Link to comment Share on other sites More sharing options...
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