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S&P Chart Finger Insertion Pattern

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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.

z-7ks

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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. 

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