Onward, Bullish Soldiers! 2/14/23

[DrStool]

I don't know about these persistent recurring bursts of buying. But they're here. And this morning we've had an upside breakout of a nice big triangle pattern on the ES, 24 hour S&P fuguetures. The 5 day cycle projection is 4170. But over the past month or so, we've seen a 4 day cycle run like clockwork. On a 4 day basis, the projection is 4162. Ditto on a 2-3 day cycle projection. So either way there's still a bit of upside projected from where we are at 8 AM in New Yak.

The high on the 4 day cycle is due now, with a second peak due on Wednesday. ON the last wave the second peak was lower than the first. If this pattern repeats with a higher high, look out above. 

I have a Gold Trader report about to go in the hopper. Pull the chain to flush. 

 

For moron the markets, see:

• Swing Trade Screen Picks – Meat Grinder Prevails February 13, 2023
• Rally Looks Great But Don’t Chase It Now! Here’s Why February 13, 2023
• US Treasury Throws A Shocker to Reverse the Stock Market Outlook February 9, 2023 
• Swing Trade Screen Picks – Here are Two on the Buy Side that Stick Out February 6, 2023
• Rally Looks Great But Don’t Chase It Now! Here’s Why February 6, 2023
• SOS – Goldtanic Hits Iceberg, Ship Sinking February 5, 2023
• Composite Liquidity Should Be Bearish, Here’s Why It’s Not Right Now January 26, 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 Fell Sharply in January February 3, 2023

If you're serious about the underlying forces of supply and demand that drive the markets, join me!

 

 

 

 

 

 

[DrStool]

KABOOM! WTF! 

[DrStool]

35 minutes ago, DrStool said:

The 5 day cycle projection is 4170. But over the past month or so, we've seen a 4 day cycle run like clockwork. On a 4 day basis, the projection is 4162. Ditto on a 2-3 day cycle projection.

All done on this bar. 

[SiP]

ugly number

 

if bulls close green than we could start talking about 4700 SPX

[DrStool]

Effed up. 

[DrStool]

The CPI is completely, utterly false. Just a bald faced lie. 

 

[fxfox]

IF thy close this green after THAT number...

[DrStool]

What number? 

[DrStool]

What are you guys talking about? Number? 

[DrStool]

What does the economy have to do with the stock market? 

Absolutely nothing! 

-J. Granville

[fxfox]

7 minutes ago, DrStool said:

The CPI is completely, utterly false. Just a bald faced lie. 

https://twitter.com/Lee_Adler/status/1625501266146390016?s=20&t=h5JUIZok4LXzV3IeSyqT9Q

Isn't that the recipe for the perfect tsunami?

1. FED relies on CPI and PCE, which both don't show accurate number and overestimate inflation

2. Because of that FED raises rates too much

3.  Deep recession

 

What of ocurse also could be: Market knows exactly that the numers alre wrong, anticipates that FED knows that too and thinks that the FED won't raise anymore. 

[fxfox]

Poopwell gave the go for the retail maniacs once he said that financial conditions are ok (or did he even say that they have improved? Something like that).

See, Poopwell is a Private Equity guy from his origins, never forget that. No way he will kill the market.

It all began when the 401k's were introduced. Before that, one could have said that the stock market is a playground for the upper middle class and the rich. After that the whole population became a slave of the stock market and its performance and therefore the need to pump it ever higher.

[DrStool]

I don't see why anyone sees the CPI print as significant. Anyway, it was as expected. 

[sandy beach]

Thanks for your post TCG! I wish you well!

 

 

[DrStool]

those hourly bars are wild.