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Ask Not for Whom The Bell Tolls 1/24/23


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SPX - We are a week away from a Golden Cross between the 50 day MA and the 200 day MA. The previous times it happened was in Apr 2019 after the Dec 2018 low and in July 2020 after the Mar 2020 low. This will provide another confirmation that the bear market low occurred in Oct.

 

20230124_231133.jpg

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Decent liquidity is helping stocks, despite the Fed’s efforts to take the liquidity tide back out to sea. The orange line below explains the market’s zigs and zags almost perfectly. QT is being offset by market liquidity and bank reserves, which is keeping stocks afloat.

20230125_090724.jpg

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51 minutes ago, DrStool said:

Removing overnight RRPs from liquidity is an economists wet fart.   

They have  almost (but not quite) reproduced my PONTs chart, but added a stupidity wrinkle. 

Your server was hacked by a little asian dwarf with fat glasses! 😂

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