DrStool Posted January 10, 2023 Report Share Posted January 10, 2023 Finger patterns are a common feature of bear markets, less so for bull markets. And it's never good to anticipate that a pattern will complete. But we should keep an eye on this. Because if it goes all the way in, bulls will experience the pain If we look at the hourly chart of the ES, 24 hour S&P fucutres, we see a pinky pattern. However, to have the full middle finger pattern on the daily chart would require the market to drop to 3805 today. I'm not sure that's a realistic expectation. At the moment, as of 6:45 AM ET, the 2-3 day cycle projection points only to 3850, which would leave the base of the finger exposed. However, a breakdown below 3875 would create an extreme head and shoulders top pattern on the hourly. It would have a very weak right shoulder and measure to 3800 That would complete full middle finger insertion to the bulls. Grab some popcorn and stay tuned. This could get interesting. For moron the markets, see: Swing Trade Screen Picks – Low Conviction January 9, 2023 You Think That Was The Bottom? Think Again January 8, 2023 Withholding Taxes Are Soaring January 6, 2023 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 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 January 10, 2023 Author Report Share Posted January 10, 2023 9:50 AM, bears return from their 20 minute coffee break and go back to work. Link to comment Share on other sites More sharing options...
DrStool Posted January 10, 2023 Author Report Share Posted January 10, 2023 And they get run over. Link to comment Share on other sites More sharing options...
Jimi Posted January 10, 2023 Report Share Posted January 10, 2023 JFC Link to comment Share on other sites More sharing options...
DrStool Posted January 10, 2023 Author Report Share Posted January 10, 2023 Mmmmmm.. Fryed Chicken. 11 erbs and spices. Link to comment Share on other sites More sharing options...
DrStool Posted January 10, 2023 Author Report Share Posted January 10, 2023 Market's been on blood thinners for too long. Link to comment Share on other sites More sharing options...
DrStool Posted January 10, 2023 Author Report Share Posted January 10, 2023 If they're not careful, it will hemorrhoid. Link to comment Share on other sites More sharing options...
DrStool Posted January 10, 2023 Author Report Share Posted January 10, 2023 Some weird looking candles. Link to comment Share on other sites More sharing options...
fxfox Posted January 10, 2023 Report Share Posted January 10, 2023 3 minutes ago, DrStool said: If they're not careful, it will hemorrhoid. Confused Ass says: Ass will only be wound if FED goes on with beating. Sometimes beating stop early, so ass mot really bleeding. Link to comment Share on other sites More sharing options...
Jorma Posted January 10, 2023 Report Share Posted January 10, 2023 I stumbled on this about RRP's. Don't think Lee will find must to disagree with. https://www.atlanticcouncil.org/blogs/econographics/fed-reverse-repos-hit-a-new-record-an-unhealthy-development/ Link to comment Share on other sites More sharing options...
BreakOut Posted January 10, 2023 Report Share Posted January 10, 2023 Another for the annals of stock proctology. Link to comment Share on other sites More sharing options...
DrStool Posted January 10, 2023 Author Report Share Posted January 10, 2023 The Fed Funds rate is completely fake. There's no Fed Funds market. It's like the RRP rate. Arbitrarily set by the Fed to track a few points below the 13 week T-bill rate, weeks after the market has already moved. The whole thing is like a 1970s peep show. It's disgusting. And now the Treasury is trying to manipulate market rates lower again by paying down T-bills. It's all so sordid. Link to comment Share on other sites More sharing options...
DrStool Posted January 10, 2023 Author Report Share Posted January 10, 2023 why did the market close early today. Link to comment Share on other sites More sharing options...
DrStool Posted January 10, 2023 Author Report Share Posted January 10, 2023 https://wallstreetexaminer.com/2023/01/credit-boom/ Link to comment Share on other sites More sharing options...
sandy beach Posted January 10, 2023 Report Share Posted January 10, 2023 4 minutes ago, DrStool said: why did the market close early today. 😂 Link to comment Share on other sites More sharing options...
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