DrStool Posted March 20, 2023 Report Share Posted March 20, 2023 The ES 24 hour S&P futures sold off overnight, but US traders woke up this morning and bought the effin dip as usual. It remains to be seen if they'll be sustained or punished when regular trading opens. The key area to watch for a rally signal would be 3920-30. If they clear that, it would be good to go. Perhaps all the way up to 3950. OK. I keed. I keed. But if they then cleared that, they'd have some running room. On the downside, 3865-80 looks like the key sport area. Break that, and bears get the ball with running room to 3835 or so. In short, the trading range still rules as we await the FOMC curicus and Powell Dog and Pony Show on Wednesday. Stay tuned. I am working on a Technical Trader update. Be back here with more in an hour or so. For moron the markets, see: How to Play When Fed Changes the Game, Not Just the Rules March 19, 2023 Gold Works On High Base March 14, 2023 Swing Trade Screen Picks – Who Wants to Go Short Here! March 13, 2023 Bailout or Not, Stock Traders Are Should Give the Fed, Treasury, and FDIC the Finger March 13, 2023 Systemic Meltdown Under Way As Dead Bodies Finally Start Surfacing March 12, 2023 February Withholding Taxes Say – Fade the Jobs Report! March 2, 2023 Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 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...
Jorma Posted March 20, 2023 Report Share Posted March 20, 2023 A lot of heavy lifting in the Liquidity report Lee. Good work. They sure have made a mess of things. We have to admit that Covid was a disaster. I'd say they over did it by 2 or 3 trillion $. Link to comment Share on other sites More sharing options...
DrStool Posted March 20, 2023 Author Report Share Posted March 20, 2023 35 minutes ago, Jorma said: A lot of heavy lifting in the Liquidity report Lee. Good work. They sure have made a mess of things. We have to admit that Covid was a disaster. I'd say they over did it by 2 or 3 trillion $. Thank you! Means a lot to me! (I don't get many compliments on my work. 😉) Link to comment Share on other sites More sharing options...
DrStool Posted March 20, 2023 Author Report Share Posted March 20, 2023 Massive Fed Monetary Injection Changed the Technical Picture LEE ADLER 2 - TECHNICAL TRADER MARCH 20, 2023 The Fed injected nearly $300 billion into the banking system last week. That put in place at least a temporary detour for stocks. That detour will be redirected this week as a result of the FOMC circus and Powell Dog and Pony Show. Here’s what to look for, and what to do about it. Non subscribers click here to access. Technical Trader subscribers click here to download the complete report. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! Link to comment Share on other sites More sharing options...
potatohead Posted March 20, 2023 Report Share Posted March 20, 2023 https://twitter.com/WifeyAlpha/status/1637811436977045510 Link to comment Share on other sites More sharing options...
SiP Posted March 20, 2023 Report Share Posted March 20, 2023 96% of crypto coins are crap, but bitcoin is not since its just finite asset like gold. BTC, like gold, cant be used for transaction so its not feasible to use it in daily life activities. It just cost to much and its better to use other tools like fiat money and credit/debit cards. Bitcoin should have value as long as people see it as a store of value. And it looks like that's exactly what it is. Others crypto, especially those tokens release by somebody, celebrities are just a crap. I also see space for some fluid crypto, maybe like ETH, to take center stage as a tool to handle daily life transactions. but thats it. nothing more. Link to comment Share on other sites More sharing options...
potatohead Posted March 20, 2023 Report Share Posted March 20, 2023 Lee, Your liquidity report belongs in the smithsonian museum of natural history. This report nails it. Identifies the potential fallacies of the US financial system's dominance and speculative frenzy/crash that ensued. Classic line........ "So the Fed avoided immediate crisis in 2022 when it started QT by not requiring the dealers to stand in front of a firing squad. Instead, the Fed just water boarded them." Link to comment Share on other sites More sharing options...
DrStool Posted March 20, 2023 Author Report Share Posted March 20, 2023 46 minutes ago, potatohead said: https://twitter.com/WifeyAlpha/status/1637811436977045510 Blocked. Link to comment Share on other sites More sharing options...
DrStool Posted March 20, 2023 Author Report Share Posted March 20, 2023 3 minutes ago, potatohead said: Lee, Your liquidity report belongs in the smithsonian museum of natural history. This report nails it. Identifies the potential fallacies of the US financial system's dominance and speculative frenzy/crash that ensued. Classic line........ "So the Fed avoided immediate crisis in 2022 when it started QT by not requiring the dealers to stand in front of a firing squad. Instead, the Fed just water boarded them." Thank you sir! Potatohead is referring to How to Play When Fed Changes the Game, Not Just the Rules Link to comment Share on other sites More sharing options...
DrStool Posted March 20, 2023 Author Report Share Posted March 20, 2023 2 hours ago, Jorma said: A lot of heavy lifting in the Liquidity report Lee. Good work. They sure have made a mess of things. We have to admit that Covid was a disaster. I'd say they over did it by 2 or 3 trillion $. Thank you! Jorma is referring to How to Play When Fed Changes the Game, Not Just the Rules Link to comment Share on other sites More sharing options...
DrStool Posted March 20, 2023 Author Report Share Posted March 20, 2023 Ask not what your market can do for you, but what you can do for your market. Link to comment Share on other sites More sharing options...
DrStool Posted March 20, 2023 Author Report Share Posted March 20, 2023 If they cross that trendline... To buy, or not to buy, that is the question. Link to comment Share on other sites More sharing options...
DrStool Posted March 20, 2023 Author Report Share Posted March 20, 2023 13 week bill rate was below Fed Funds on Friday. Backed up to it today. If Fed raises even a quarter, it will be out of step with the market. It has been playing catchup for the past 15 months. Honestly, I have no fucking idea what they'll do, and neither does anyone else who isn't God Man Sacs or some other Primary Dealer. I guess it all depends on what message they decide they want to send. By the way, God Man says no increase. Who am I to argue? How to Play When Fed Changes the Game, Not Just the Rules How to Play When Fed Changes the Game, Not Just the Rules Link to comment Share on other sites More sharing options...
SiP Posted March 20, 2023 Report Share Posted March 20, 2023 It was a positive day in europe. Red open with bank lower even 5% and we closed green, also on banks. Link to comment Share on other sites More sharing options...
BurntOnce Posted March 20, 2023 Report Share Posted March 20, 2023 "Nothing so safe as gold" Hakkabut Off on a Comet, by Jules Verne Link to comment Share on other sites More sharing options...
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