DrStool Posted January 25, 2023 Report Share Posted January 25, 2023 The bulls tried again to punch it through the long term trendline from the January 2022 market high, and failed. That does not mean that they are done trying. Today is day 4 of the usual 5 day trading cycle. If they continue to slop around near the trendline, then this is a consolidation, and they'll punch it through on the next cycle. For now, they've already hit a 3 day cycle low projection of 3982 on hourly chart of the ES 24 hour S&P futures. . But there's still a one day cycle projection of 3970. If they do get that low this morning, it would diminish, but not eliminate, the likelihood of punching the major downtrend line on the next 5 day cycle up phase. But no doubt, they'll try. For bears to have a shot at regaining control, we'd need to see numbers below 3965. If they stay above that, the word of the day is Consolidate. Consolidate. Dance to the music. For moron the markets, see: Swing Trade Screen Picks – Energetic Buys and ShortsJanuary 23, 2023 Nothing is BrokenJanuary 23, 2023 Gold Going Higher January 18, 2023 Swing Trade Screen Picks – Whoa! Just Wait Till Next Week! January 17, 2023 Long Live the Bear. The Bear is Dead January 17, 2023 A Funny Thing Happened on the Way to the Debt Ceiling January 16, 2023 Withholding Taxes Are Soaring January 6, 2023 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 25, 2023 Author Report Share Posted January 25, 2023 Meanwhile, the 10 year Treasury yield is on the verge of a VIS. Moron that here. https://liquiditytrader.com/index.php/2023/01/16/a-funny-thing-happened-on-the-way-to-the-debt-ceiling/ Link to comment Share on other sites More sharing options...
The CoinGuy Posted January 25, 2023 Report Share Posted January 25, 2023 Not exactly back...just passing through, but I do appreciate the well wishes. Tremendously. I'm actually a severe introvert so it's better that I walk away when nothing is going on that is conducive to making a few trades. Gives me time to study and meditate...mull things over for awhile. I never like to be in a rush. That behavior is what consistently keeps the Coin coming into in my pockets. Yesterday was a doozy... Didn't know I'd be spending the rest of the day/night in the ER. Actually just got home 15 minutes ago. Things have been going well for months, and then out of the blue. High Fever, rapid heart rate...turned out to be an inflamed and infected diverticulitis. At least it isn't/wasn't worse. The majority of my problems from last year they were misdiagnosing because they couldn't figure out what was going on...and believe me I have the best medical team in the business. Turned out to be a couple of rotten teeth under some old caps in my mouth. So...if you're ever having mystery pains...that might be a place to look! My health is still hit/miss, but steadily improving overall. I haven't felt better in years! I will chalk it all up to "e-biking", my doctor recommended and I'm not kidding...it SERIOUSLY improved my numbers all across the board within a month of daily riding. I'll be moving to my new digs in the next week or two. Once settled, I might post a little more often...I never plan on totally leaving Capitalstool as long as I'm still breathing. I'd like to support Doc as best as I can. So, this might be another year of erratic posting, but like 2022...I plan on it being just as profitable. If not more so. From my perspective...for me...this year is easier to read. Oh we did alright last year especially after nailing the 3.29 high and the secondary decline coming off 8.16...but it got boring right at October 13th. I believe this is going to be the year of bottoms...and I'm ramping up my larger trading accounts to start studying longs. No...not for a secular style bull market...just a large/long bounce that plays into my favorite time frame....which is if you recall 18 months. Until then, net short. Although...you know my feelings toward the metals. I won't short these, or help others to do so. I'm back to watching and waiting and I'm going to be dipping in from time to time until 3250 is touched. Patience is again the order of the day. It will be hit... I'm personally just waiting for the announcement that brings this market sideways...I hope it's a doozy. Although, considering the world environment at this moment...I will mention I hope it isn't nuclear related. TCG oh...and... I'm actually dying to put the teacher hat on for awhile... I haven't drawn up a single chart since October, I feel the need to practice a little....you might see one or three charts pop up here sooner or later. All with our current situation in mind, plus a 2008 pattern update. It's gotten...interesting. Have you been watching the dates of reversals? Lot's of 13's to be watching. There's something there...maybe I'll discuss that a little. Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 Good going TCG! Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 3 day cycle projection 3975 done. Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 1 day cycle projection 3955. TIme overextension. Link to comment Share on other sites More sharing options...
The CoinGuy Posted January 25, 2023 Report Share Posted January 25, 2023 Viewing my 2008 Pattern Chart, yesterdays slight decline and the action so far this morning coincide with coming off the right peak on 9/02/08 into the Lehman event. The pattern for the last six months has been running just under a 2:1 ratio(in time). February should be interesting. That is my call. Perhaps the Fed can give us a gift of some sort. I like it when a trade starts out clanking coins...let's hope it continues. I now have a few expensive toys to pay for...which means I plan on extreme accuracy this year. If I have to pay for something with my own money....well, it'll be a first. I'm keeping my attitude positive so...so I won't even go there. Smile, TCG Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 5 day cycle projection 3935. Wow. Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 Bears make an impressive stick save. But still early in the first period. Link to comment Share on other sites More sharing options...
fxfox Posted January 25, 2023 Report Share Posted January 25, 2023 Little bit of turmoil in the solar stocks, but still... ... Enphase has a P/E of 110, SolarEdge of 150. Like Tesla... right before it cracked... Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 1 hour ago, DrStool said: 5 day cycle projection 3935. Wow. Cancel that. Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 Boing Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 Came in long up the wazoo, and got longer at 3955. Still betting on a breakout. Vee zhall see. Link to comment Share on other sites More sharing options...
DrStool Posted January 25, 2023 Author Report Share Posted January 25, 2023 I have been adding as we go up. I'm betting on a huge move if they break the long term trendline. Link to comment Share on other sites More sharing options...
WTF Posted January 25, 2023 Report Share Posted January 25, 2023 Nat Gas down again, at this rate of decrease my utility company will be sending me a check next month as it will be negatively priced. Link to comment Share on other sites More sharing options...
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