DrStool Posted April 19, 2023 Report Share Posted April 19, 2023 The ES 24 hour S&P futures are threatening to make a lower low here, just after 8:30 AM in New York. It needs to drop under 4124. An hourly close below that would complete a top pattern that measures to around 4080. The current 5 day cycle projection is 4120. Cliffhanger coming up. On the other hand, if they don't take out this low, the uptrend could accelerate. For moron the markets, see: Is Gold Still Ticking After This Licking? April 19, 2023 The Fed’s Circle Jerk, is ‘Twerking? April 18, 2023 Here’s How This Week Will Show Whether Bulls or Bears are in Trouble April 17, 2023 Here’s How We Know That Doom Has Already Arrived April 6, 2023 Macro Liquidity Says No Way Jerray! April 4, 2023 How to Play When Fed Changes the Game, Not Just the Rules March 19, 2023 Systemic Meltdown Under Way As Dead Bodies Finally Start Surfacing March 12, 2023 Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 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 April 19, 2023 Author Report Share Posted April 19, 2023 Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 19, 2023 Report Share Posted April 19, 2023 Nice Symmetry... I liked your comments from yesterday Doc... "...and the implied target of that breakout is still 4210. " That's what I've been watching since the continuation candle was left on 4.14 in the SPX. Usually semi-accurate for measuring 1/2 way points...or as a marker for HE(High Energy) events. Measures precisely to...4210. I'd like to see it get hit...maybe even a gap(8.22.22) fill? My only problem with this scenario is...last time I relied on the continuation candle...it aborted early...and...I'm sitting here staring at several pattern matches where no right peak was given. Even the current 'twin peak' is favoring a weaker right side. So...my final conclusion. I'm open to about anything between right now...and Friday's close. Just watching...waiting. I know it...when I see it. Usually...not a moment before. I'm dense like that... For all we know...it could be happening right now. Smile... The CoinGuy oh...and... Quick example. Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 19, 2023 Report Share Posted April 19, 2023 It's a start. Needs to hold... TCG oh...and... ^HUI: Not looking good. Very clean reversal from the 13th. Below 260...it's over. GLD: Attempting to hold light support at 185. Needs to hold 180. SLV: Same. Light support at 23. Needs to hold 22.50. Link to comment Share on other sites More sharing options...
DrStool Posted April 19, 2023 Author Report Share Posted April 19, 2023 They panickin. Link to comment Share on other sites More sharing options...
fxfox Posted April 19, 2023 Report Share Posted April 19, 2023 Remember: We rallied 15% after Bear Stearns… Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 19, 2023 Report Share Posted April 19, 2023 fxfox... I don't know how others would read the chart. From my own perspective, I'd equate the Bear Stearns announcement with the 6.17.22 low. How many days has it been since the SVB announcement on March 10th? That's why I'm here today...and...I'll be here tomorrow(and the next day) for a completely different reason. Best, TCG oh...and... quick follow-up... Link to comment Share on other sites More sharing options...
DrStool Posted April 19, 2023 Author Report Share Posted April 19, 2023 Now up to $126 billion in T-bill paydowns this month, and that's before the tax deadline. Yesterday's deluge will take 2 weeks to count. Then another month to give it all away. Link to comment Share on other sites More sharing options...
fxfox Posted April 19, 2023 Report Share Posted April 19, 2023 18 minutes ago, DrStool said: Now up to $126 billion in T-bill paydowns this month, and that's before the tax deadline. Yesterday's deluge will take 2 weeks to count. Then another month to give it all away. Hmmm… given that large amount we should be already higher in the SPX I‘d guess. Link to comment Share on other sites More sharing options...
DrStool Posted April 19, 2023 Author Report Share Posted April 19, 2023 You have to read the REST.... of the story. https://liquiditytrader.com/index.php/2023/04/18/the-feds-circle-jerk-is-twerking/ Link to comment Share on other sites More sharing options...
DrStool Posted April 19, 2023 Author Report Share Posted April 19, 2023 Yes turd day's tax haul, the part that they were able to count, was $104 billion. That will be coming back to investors and dealers in the days ahead. Now the question is whether they just shunt most of it to the Fed's RRP account, or buy stonks, and put it back into the deposit base. From nice Nice France I bid you Bonne nuit et bonne chance. Link to comment Share on other sites More sharing options...
SiP Posted April 19, 2023 Report Share Posted April 19, 2023 Tesla net income and earnings drop more than 20% from last year Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 19, 2023 Report Share Posted April 19, 2023 Maybe Tesla is no longer a leading issue... Best, The CoinGuy oh...and... The textbook measurement...is zero. 6 months. 10 days. I taught them to 'break the pattern' in the issue of interest and then trade the pattern against itself... A crack below 175 on Vol will be needed to confirm. Link to comment Share on other sites More sharing options...
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