DrStool Posted March 6 Report Share Posted March 6 Good morning! My air conditioning is being installed today. It's the last project in my renovation. After this, cleanup, touchup, and I can finally just live in my home. That means no more excuses for late reports! 😁 As for today's market, looks like we have another rock 'em sock 'em thrill ride today! OK. Not. But the 5 day cycle is on the sell side, so who knows! To really get anything at all going on the downside, first they need to break 4040, and then 4030. Otherwise, no dice for the bears. In fact, Friday's breakout from that nice base pattern has an implied price target of 4135. To negate that, we'd need to see a sharp pullback today, with a close below 4028. With renewed evidence of a 4 day cycle, bears have 2 days to get it done. Or else. Mixed Bag of Signals Screaming, “Walk This Way” March 5, 2023 Meanwhile the 10 year yield has collapsed, breaking the 200 hour moving average. It looks like a top pattern, but they would need to drop below 3.88 to confirm that. Why? How about $51 billion in T-bills to be paid down on Thursday. However, hourly oscillators say, Not so fast! Looks like bottom formation starting here. February Withholding Taxes Say – Fade the Jobs Report! March 2, 2023 Finally, gold. It needs to hold above 1856 to complete a nice base pattern with a price implication of 1896. Otherwise, back in the crapper we go. Gold’s Rebound Is Coming! February 28, 2023 For moron the markets, see: Mixed Bag of Signals Screaming, “Walk This Way” March 5, 2023 February Withholding Taxes Say – Fade the Jobs Report! March 2, 2023 Gold’s Rebound Is Coming! February 28, 2023 Swing Trade Screen Picks – Can’t Touch This February 27, 2023 Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023 Gold’s Temperature Reaches Absolute Zero February 22, 2023 Bears Challenge Bulls to A Duel – Here’s Who Gets Shot February 21, 2023 You Can Now Follow the Diabolical Usual Suspects February 16, 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 folder. Link to comment Share on other sites More sharing options...
DrStool Posted March 6 Author Report Share Posted March 6 2 hours ago, DrStool said: In fact, Friday's breakout from that nice base pattern has an implied price target of 4135. Market seems to have shifted into trending mode. This target is in play. Link to comment Share on other sites More sharing options...
DrStool Posted March 6 Author Report Share Posted March 6 There's a resistance line at 4070. Clear that and it's off to the races. Link to comment Share on other sites More sharing options...
DrStool Posted March 6 Author Report Share Posted March 6 Link to comment Share on other sites More sharing options...
fxfox Posted March 6 Report Share Posted March 6 Effing buybacks Link to comment Share on other sites More sharing options...
DrStool Posted March 6 Author Report Share Posted March 6 Swing Trade Screen Picks – 3 Buys, No Shorts March 6, 2023 Link to comment Share on other sites More sharing options...
DrStool Posted March 6 Author Report Share Posted March 6 Have I been faked out? Link to comment Share on other sites More sharing options...
SiP Posted March 6 Report Share Posted March 6 DISH is having a heart attack after several shutdowns of their network. They try to build new 5G network based on unproven tech from Japan (Rakuten), not buyin stuff from leaders like Nokia, Ericsson, Samsung or God forbid Huawei, ZTE. It would be interesting to see how this will play out. Pretty good for T-Mobile, ATT, Verizon since they will probably build 3 strong brands, other will disappear. 1 Link to comment Share on other sites More sharing options...
SiP Posted March 6 Report Share Posted March 6 I'm thinking about shorting tesla. probably will start building position. 1 Link to comment Share on other sites More sharing options...
DrStool Posted March 6 Author Report Share Posted March 6 Nothing has happened yet. Link to comment Share on other sites More sharing options...
fxfox Posted March 6 Report Share Posted March 6 29 minutes ago, DrStool said: Nothing has happened yet. 1 Link to comment Share on other sites More sharing options...
SiP Posted March 6 Report Share Posted March 6 Libor Cracks 5% for First Time Since ‘07, Spurred by Fed Outlook https://ca.finance.yahoo.com/news/libor-cracks-5-first-time-120539115.html 1 Link to comment Share on other sites More sharing options...
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