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Here's What Comes After They Bore Us 3/1/23

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That's right. They bore us into submission. Then when we are all complacent that nothing worse will happen...

And the joke will be on us.

The question upon us this good day, my fellow ladies and germs is this. Is today the day?

Looking at this chart of the hourly ES, 24 hour S&P fucutures, the answer is YES! Yes, I believe it is. That doesn't mean that it is. Only that I believe it. And if we all believe it together with all our hearts, there can be no question. 

The market would rally. 

So keep you skepticism and doubt, my fellow faint hearted bears, for it is on such doubt and hesitancy that the market will descend. For bulls it's the slope of hope, and for bears it's the descent by doubt. 

Chow and amen! Pox vobiscum. 


In all seriosity though, until the get out of this range of 3942 to 4019, go do something that's fun, or useful, or productive. 

Meanwhile, on the hourly 10 year Treasury yield chart, Satan returned to buy in size at 3.98 yesterday, solidifying the upper line of the range. Is this entity a bottomless pit of cash? 


Well, for one, the Fed's Strategic Cash Reserve is intact. Those with cash are sitting tight with their money on deposit here. That suggests that whoever is buying Treasuries is doing it with repo. Leverage, leverage, leverage baby! Although, I admit, there are other possibilities. 


For moron the markets, see:

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

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