DrStool Posted March 7, 2023 Report Share Posted March 7, 2023 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 For moron the markets, see: Swing Trade Screen Picks – 3 Buys, No Shorts March 6, 2023 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 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 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...
fxfox Posted March 7, 2023 Report Share Posted March 7, 2023 Link to comment Share on other sites More sharing options...
DrStool Posted March 7, 2023 Author Report Share Posted March 7, 2023 I just came back on line. WTF happened. Was there some news. 😄😄😄 Link to comment Share on other sites More sharing options...
potatohead Posted March 7, 2023 Report Share Posted March 7, 2023 2 minutes ago, DrStool said: I just came back on line. WTF happened. Was there some news. 😄😄😄 naw....just powell polishing his cooking skills Link to comment Share on other sites More sharing options...
DrStool Posted March 7, 2023 Author Report Share Posted March 7, 2023 So far, this is only a return to the scene of the crime pullback. Link to comment Share on other sites More sharing options...
Dr.Correll Posted March 7, 2023 Report Share Posted March 7, 2023 2 minutes ago, potatohead said: naw....just powell polishing his cooking skills I had to print this out for the guys that trade on my team Link to comment Share on other sites More sharing options...
potatohead Posted March 7, 2023 Report Share Posted March 7, 2023 looks like the heat is being turned up in the kitchen.... CHINA'S FOREIGN MINISTER QIN GANG: CHINA, US ON COURSE FOR CONFLICT. Link to comment Share on other sites More sharing options...
Jorma Posted March 7, 2023 Report Share Posted March 7, 2023 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. Link to comment Share on other sites More sharing options...
DrStool Posted March 7, 2023 Author Report Share Posted March 7, 2023 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! 😊 Link to comment Share on other sites More sharing options...
Dr.Correll Posted March 7, 2023 Report Share Posted March 7, 2023 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 Link to comment Share on other sites More sharing options...
BurntOnce Posted March 7, 2023 Report Share Posted March 7, 2023 this dissolution of humanity is really dragging on. where's that confounded 3200 anyway? Link to comment Share on other sites More sharing options...
WTF Posted March 7, 2023 Report Share Posted March 7, 2023 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... Link to comment Share on other sites More sharing options...
DrStool Posted March 7, 2023 Author Report Share Posted March 7, 2023 I am quite taken by today. You can read that as you wish. 😄😄😄 Link to comment Share on other sites More sharing options...
fxfox Posted March 7, 2023 Report Share Posted March 7, 2023 16 minutes ago, DrStool said: I am quite taken by today. You can read that as you wish. 😄😄😄 I even cried. Link to comment Share on other sites More sharing options...
DrStool Posted March 7, 2023 Author Report Share Posted March 7, 2023 This is crashy stuff. No channels. 5 day cycle projection 3930-50. Link to comment Share on other sites More sharing options...
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