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After Banks Get the Runs, Bulls Follow The Scent 3/30/23

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Ever since the weekend massacre that resulted in the shutdown of two big banks and bailout of those depositors, stocks have been in a relentless uptrend. On the ES, 24 hour S&P futures charts, that uptrend now has 2-3 day and 5 day cycle projections of 4055-60.

-o0jb

If the market reaches that level and sticks, it would break a trendline dating from the February 2 peak, which you can see clearly on the 5 hour bars of the ES.  Watch Out For This If the Market Comes Unstuck

-o0hj

For the bears to have any chance here, they better make sure that that trendline break doesn't happen. 

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Gold trading with the broad market?

Good morning...

I went to add this conclusion to my post from yesterday...and my ability to edit my post is no longer possible. 

I'll add my final thought here...

Below are  charts of 12 banks.  Every chart here is of a top 15 bank...except two. One of those two is Government Sachs, the other a regional.  I've left the names of the banks off the charts...they're not needed to understand my point.

1349460168_Bank1.thumb.jpg.82727f87b7b4fe647dbaceebcfa6c725.jpg

813548833_Bank2.thumb.jpg.a4dc1d5507c6d19ba03fd05eccb8df32.jpg

1599645705_Bank3.thumb.jpg.b6f3643cff9d2cd6da0c0f086bfd7635.jpg

Why am I posting these charts?

I'm posting these so you can see where each banking issue is in regards to their respective magnet.  The stronger the chart...the closer the connection to the US government. 

Although...despite connections...All issues will sooner or later reach their respective magnets.

Now...if you think of those bank stocks as....World indices?

Perhaps.  Just perhaps...

Russia is nothing more than...SIVB.

962922420_LeaderofthePack-March302023.jpg.ee304ac4be5c19d6c7ee8af1f2c88997.jpg

March 10, 2023...I believe this date will be remembered by many generations to come.

Best Regards,

The CoinGuy

oh...and...

From the archives...Updated as of March 29, 2023.

1632424655_SPXTwinPeaksUpdated-March302023.thumb.jpg.2bf7242092310dd94a6f23f8a593b1c7.jpg

I'll add in closing...I saw nVidia mentioned recently.  You know my thoughts on this company...

NVDA.  No support until 75(50 really).  Everyone wonders why the huge upside here?  For me...it's nothing more than symmetry. 

A lot of these issues like to decline the same dollar amount in the primary(200+) and secondary declines off a major peak.  Pull it back on the weekly...see that high from 2018?  That's your target.  Although...the magnet is 50.

All they have to do to make the above nothing more than gibberish is....take 275 and hold it on volume.

They've got one more push...let's see how it unfolds.

2139172166_NVDADailyChart-March302023.thumb.jpg.52784a13ce3118bfda483217eef5395d.jpg

Funny thing though about the Twin Peaks formation...you can stretch the formation...but overcoming it?  Well.  Again...let's watch and see.

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BANKS: COPPER VS CRYPTO

Dr  Burry said it's more like 1907

I disagree

Copper set off 1907 and crypto set off 2023

So it begins like 1907....but.....

But this is mostly the 1980's S and L style.

They did'nt have inflation and rapidly rising interest rates and duration mismatch in 1907.

This bank problem will last a long time.

A long slow burn.

Data on how each individual bank will be effected would be very valuable right now.

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7 minutes ago, Jimbo said:

BANKS: COPPER VS CRYPTO

Dr  Burry said it's more like 1907

I disagree

Copper set off 1907 and crypto set off 2023

So it begins like 1907....but.....

But this is mostly the 1980's S and L style.

They did'nt have inflation and rapidly rising interest rates and duration mismatch in 1907.

This bank problem will last a long time.

A long slow burn.

Data on how each individual bank will be effected would be very valuable right now.

The US has 4000 banks right now. FOUR THOUSAND.

Wouldn‘t be surprised if it will be 400 by 2033. Lottsa forced mergers and take-overs comming.

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MEANWHILE BACK AT THE NARRATIVE

What ever happend to the Metaverse???

2022 was supposed to be the year of the Metaverse.

I notice all the hipster hypsters have now pivoted to AI as the preferred substitute.

The Metaverse has been quietly dumped.

With not even a going away party!!!!

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1 hour ago, Jimbo said:

BANKS: COPPER VS CRYPTO

Dr  Burry said it's more like 1907

I disagree

Copper set off 1907 and crypto set off 2023

So it begins like 1907....but.....

But this is mostly the 1980's S and L style.

They did'nt have inflation and rapidly rising interest rates and duration mismatch in 1907.

This bank problem will last a long time.

A long slow burn.

Data on how each individual bank will be effected would be very valuable right now.

It's out there. USG reports it quarterly. Chris Whalen referred to the website, but I don't have time to search it. 

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