DrStool Posted January 5 Report Share Posted January 5 I was looking at the charts of a couple of European bourses this morning. Some pretty nice looking bullish bases over the past few months are on the brink of breakouts. Keep an eye on those this week and next. Could be a signal for the US, which is hopelessly mired in a seemingly endless and incomprehensible trading range. As for our hourly chart of the ES, S&P 24 hour futures, I have no idea what to think. There are no recognizable time cycles. Each wave has a different duration. There are some higher lows and some lower lows. Some higher highs, and some lower highs. Positive divergences and negative divergences. Indicators completely out of sync. One thing that may or may not be a tell is that over the past week, the cycle oscillators have stayed above the zero line and momentum has been mostly above that line. That tilts toward, but doesn't guarantee a bullish resolution. This is just one of those markets where you pays your money and you takes your chances or just sit on the sideline until this mess resolves, hopefully, allowing enough time for recognition and entry. Zooming in to 30 minute bars, I ask, "Is it a top or is it a bottom?" I don't know yet. Working on a Federal Revenues update to be posted later today at Liquidity Trader. We'll see how the US economy and jobs really did in December. For moron the markets, see: Gold Has Begun a Cyclical Bull Market January 4, 2023 Here’s Where Short Term Signals Either Confirm Bullish Or Else January 2, 2023 Composite Liquidity Still Bearish, No End in Sight December 23, 2022 May Gold Be Merciful Unto Us, Amen December 19, 2022 I am working on swing trade screens right now for posting before NY opens. I'll have a gold update tomorrow, followed by a new Liquidity Trader Money Trends report focusing on December tax collections and yobs man. 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. Quote Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 Hope my headline becomes a great fade. Quote Link to comment Share on other sites More sharing options...
fxfox Posted January 5 Report Share Posted January 5 We gonna go directly from inflation into horror recession: Baltic Dry Index Falls Further After Record Drop (gcaptain.com) The Baltic Dry Index fell further today after yesterday’s biggest daily percentage drop since 1984. Quote Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 Balltick Dry Heaves 1 Quote Link to comment Share on other sites More sharing options...
Jorma Posted January 5 Report Share Posted January 5 Presumably the current and hopefully brief failure of governance in the US is hunky dory in the FX market. https://www.marketwatch.com/investing/index/dxy The GBP levitation looks in doubt. I think that day it collapsed, 9/26, was an important day. I don't know what they did, whoever they are, did to save the BOE, or what they will do going forward. Quote Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 2-3 day cycle projection 3780. The beat goes on. Wild swings. Range intact. Quote Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 Clearly decision time. Best chart ever. Quote Link to comment Share on other sites More sharing options...
Jorma Posted January 5 Report Share Posted January 5 There is no shortage of cliff formations. Quote Link to comment Share on other sites More sharing options...
Jimi Posted January 5 Report Share Posted January 5 It's reasonable to wonder aloud whether this Speakership contest augurs poorly for the perennial debt-ceiling fight. Quote Link to comment Share on other sites More sharing options...
No Einstein Posted January 5 Report Share Posted January 5 28 minutes ago, Jimi said: It's reasonable to wonder aloud whether this Speakership contest augurs poorly for the perennial debt-ceiling fight. is it also reasonable to wonder as a muse, are they mutually exclusive?, or is it just reasonable to wonder...inquiring minds etc. 😉... Quote Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 Wildly bullish for stocks if the USG is forced to stop selling debt. Default too. Buy the sell the news. Quote Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 It's like this is the bottom but it could crash. Where else can you get that kind of anal ISIS. Quote Link to comment Share on other sites More sharing options...
fxfox Posted January 5 Report Share Posted January 5 6 minutes ago, DrStool said: Wildly bullish for stocks if the USG is forced to stop selling debt. Default too. Buy the sell the news. Why should it be forced? By whom? Quote Link to comment Share on other sites More sharing options...
Jorma Posted January 5 Report Share Posted January 5 In order to survive on Wall Street bears are going to have to evolve their behavior and use stealth and cunning. Quote Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 1 hour ago, fxfox said: Why should it be forced? By whom? Debt ceiling and no Congressional action. Quote Link to comment Share on other sites More sharing options...
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