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Bears are in Trouble 1/5/23

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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:

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. 

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Presumably the current and hopefully brief failure of governance in the US is hunky dory in the FX market. 


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.

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