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That's a Helluva Bottom 3/7/23

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As a result of the breakout from that 8 day base on the hourly chart, the ES, 24 hour S&P futures have a conventional measured move target of 4120-35. Right now they're in a nominal 5 day cycle down phase. I'll call it the pause the refreshes. Original, huh? 

That 5 day cycle has lately mostly been expressed in a wave that has lasted 4 days, low to low. The next low would ideally be due overnight tonight. That would leave today to be a consolidation day. 

What might change this outlook? An hourly close below 4050 for starters. And below 4037 would create a nice little reversal top. Otherwise, nap time! Then up again. 


Swing Trade Screen Picks – 3 Buys, No Shorts March 6, 2023

The 10 year yield is headed down again today. That's thanks largely to another $50 billion T-bill paydown settling on Thursday. But if they can't manage an hourly bar close below 3.90, then this is just a base for another move higher in yield. 


February Withholding Taxes Say – Fade the Jobs Report! March 2, 2023

Meanwhile, gold looked like it had a nice little breakout on the hourly chart, but it could not close the deal. But this could still be a nice big base pattern as long as the pullback holds above 1828. 


Gold’s Rebound Is Coming! February 28, 2023


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Jerry got bills to pop up today, with words.  With a dearth of supply how is he going to do it for the next 5 or 6 months? It took a couple of months for a few to notice that falling or flat rates were not in fact "the Fed raising rates."    It's a little embarrassing. Will just raising the RRP and Reserve rates be enough to keep bill rates rising? Is there another tool, besides words, to keep rates anywhere n the curve rising before the supply flood.

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1 hour ago, Dr.Correll said:

I had to print this out for the guys that trade on my team 

You mean, you're not bagging at Publix any more? 😄😄😄

You've come a long way in only 20 years. Good to see you! 😊

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4 minutes ago, DrStool said:

You mean, you're not bagging at Publix any more? 😄😄😄

You've come a long way in only 20 years. Good to see you! 😊

Haha, the ole Publix was good to me, zero student loans, and some good stock 

I actually manage an alt investment sales desk these days, fun times 

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When the semi's finally crack (up 38% from the Oct low), it is going to be a spectacular.

If..., NVDA is topping out at around $244, then the top could be in for the whole semi basket.

If..., it breaks above and holds $244 then it is probably "UP, UP and AWAY in my BEAUTIFUL (Chinese Spy) BALLOON" for the whole market.  As stupid as that would be...

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