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Stocks Suffer Another Shocking Decline 5/10/23

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That's right. The ES, 24 hour S&P futures are down 0.1% this morning as of 6:45

AM ET. A 5 day cycle projection of 4100-4105 suggests that the market could break the overnight low of 4107. So be prepared for that. We're now 4 days into a 5 day cycle. The low could come at any time today or tomorrow.  

The numbers to watch:

On the upside for resistance 4128 and 4130. If those are cleared, then 4140 and 4149. Clear those and it will be off to the races to 4188 again. 

On the downside,  there's a sport level at 4107, and descending trend sport at 4105 as NY opens and 4102 at the close. If they get busted, bears can run with it. There’s One Key this Week to the Stock Market Outlook

4107-4127 is snoozeland. 

--v--

Meanwhile, over in bond land, we wait for a breakout signal. The Big One is Coming

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Who doesn't like gold here? Check out this long term weekly chart. Gold Is on the Brink

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That's all for now. I'm going sightseeing. Here's the view from my hotel. 

BTV.jpg

That's the Berlin TV Tower. Tourist attraction. Built by the Commies.

I think I'll stay on the ground. 

Until we meet again, Alf Veeder Zayn, chairman of the Berlin Stock Exchange, wishes you Guten Tag und viel Glück.

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For moron the markets, see:

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I heard form one German that when they built the tower the sun marked the Holy Cross sign and on the West side everyone was laughing. Go visit

-Dokumentationszentrum Topographie des Terrors

- Stasimuseum

- East Side Gallery

- Pergamonmuseum

- Tränenpalast

- Bebelplatz

- Denkmal für die ermordeten Juden Europas

- Brandenburger Tor

 

consider spending one day in Potsdam.

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1 hour ago, SiP said:

I heard form one German that when they built the tower the sun marked the Holy Cross sign and on the West side everyone was laughing. Go visit

-Dokumentationszentrum Topographie des Terrors

- Stasimuseum

- East Side Gallery

- Pergamonmuseum

- Tränenpalast

- Bebelplatz

- Denkmal für die ermordeten Juden Europas

- Brandenburger Tor

 

consider spending one day in Potsdam.

Today I'm just trying to get familiar with the city a little bit. Cuz I'm headed for Warsaw on Friday. I'll be coming back here in July for 3 or 4 days to see all the sights.

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13 hours ago, WTF said:

Google finally gets it's AI pop, up 4.10% today.... pitiful.

What numbered day of the year is 4.10?

As I head back out the door...I'm going to leave a couple charts. 

Google on the Daily...789890882_GOOG-Daily-May102023.thumb.jpg.729811b88086baaa378ba514ee846115.jpg

Google on the Weekly...

1029577587_GOOG-Weekly-May102023.thumb.jpg.7f5f4e6270174fb10bb9d7e053789611.jpg

Best of luck everyone,

TCG

oh...and...

For convenience...

1788599949_TSLAFromtheCenter-April192023.thumb.jpg.3d4d87711bb556f047d43b776669cbcf.jpg

And perhaps I should leave you with this thought.  I never had the time to finish this chart...and after this weekend(and beyond)...well.  Time is up...386730175_noclue-May102023.thumb.jpg.bdaee9caff2c8208edbf238b7fc28f3c.jpg

If you really want to understand the current situation we find ourselves in...all you have to do is go back and study what I repeatedly said to study....over and over again.  That is the lead up to the Jan 2022 peak...

Here's a couple of my scratch sheets to get you started...

886399107_ThisisthesecretofTheCoinGuy-April32023.png.aaf0598e5facbf4a5a9b57d7290cc7cb.png

The CoinGuy's secret sauce is to learn to measure from the center to the outside.  This...will get you started...and then some.201118824_ItsALLabout224.thumb.jpg.9bc0680af879c5084fa758ec63c5f5bf.jpg

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