DrStool Posted May 16, 2023 Report Share Posted May 16, 2023 “There is a sixth dimension beyond that which is known to man. It is a dimension as vast as space, and as timeless as infinity. It is the middle ground between light and shadow — between man’s grasp and his reach; between science and superstition; between the pit of his fears and the sunlight of his knowledge.” – Rod Serling 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! And so, as the Drop Dead Date approaches, when the US Government runs out of money and can no longer pay all of its bills, we enter the above described arrondisement. Or "borough" as New Yawkuhs might say. We are no longer on Wall Street. We are in the Twilight Zone. It's kind of like Staten Island. Nobody wants to go there, but people live there. Mostly cops and Mafiosi. And it only pretends to be New York. It's really New Jersey. So this is the market now. We don't know where we are. We're stuck in traffic on the 440 on the way to Wall Street and we don't know how long we'll be there. As I mentioned yesterday, the market is probably headed for the Dick Trickle Memorial Point, which is at 4130 at midnight tonight. To avoid such ignominy, the market would need to clear 4142 with authoritah for an upside move. Or to smash 4110 to head lower. In both cases, there are reasons, and lots of lines, to suggest that there will be no follow through. Therefore my recommendation for today's trading is... FAMILY VACATION! Coney Island, here we come! 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. For moron the markets, see: The Twilight Zone May 15, 2023 Swing Trade Chart Picks – Buy Side Wins This Week May 8, 2023 There’s One Key this Week to the Stock Market Outlook May 7, 2023 Gold Is on the Brink May 5, 2023 Weak Real Time Withholding Taxes Set Up a Showdown May 4, 2023 The Big One is Coming May 3, 2023 Gold’s Lost Luster Will Shine Again April 25, 2023 Enjoy the Market Mirage Now Because We’re Really In a Desert April 24, 2023 The Fed’s Circle Jerk, is ‘Twerking? April 18, 2023 If you're serious about the underlying forces of supply and demand that drive the markets, join me! Link to comment Share on other sites More sharing options...
Jimbo Posted May 16, 2023 Report Share Posted May 16, 2023 WE ALL KNOW re debt limit..... The repubs will cave like a wet noodle. As soon as they get phone calls from their constituents like.... "I invoiced the Government for 10 cruise missiles and they havn't paid for a month....how about earning your campaign donation". Its no longer funny or even convincing anymore. Just the most boring of boring Kabuki theatre. Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2023 Author Report Share Posted May 16, 2023 US politics are complicated. It's pretty clear that fascists can win elections in most parts of the world when they can stack the deck. In many places, the majority supports them, even without the full fledged mind control. Just look at FL. Point being, they probably won't cave because all but a handful are in safe seats. It would not surprise me to see technical default. The interest will still be paid. The expiring paper will still be redeemed. But some won't get paid, and the House extremists won't give a fuck. They just want to stick it to Sleepy Joe, regardless of the consequences. Which won't be as bad as the Cassandras are warning. Report coming shortly. Link to comment Share on other sites More sharing options...
The CoinGuy Posted May 16, 2023 Report Share Posted May 16, 2023 Being quick to anger is not good for the heart...or the soul. Doc... I'm known in my own little world as the "Philip K. Dick of Technical Analysis" so, I do appreciate the latest direction in your morning commentary. To everyone else... I re-posted(and then some) yesterday's tutorial...in yesterday's thread. I'll apologize for the typo's...I didn't get to finish editing before the cut-off. Gotta run...literally. See you on Friday, The CoinGuy Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2023 Author Report Share Posted May 16, 2023 My travel plan so far. Am I nuts? Why, yes. Yes I am. Link to comment Share on other sites More sharing options...
potatohead Posted May 16, 2023 Report Share Posted May 16, 2023 Lee, excellent liquidity report. How do write these reports and not walk away shaking your head, thinking at some point we are screwed. Link to comment Share on other sites More sharing options...
potatohead Posted May 16, 2023 Report Share Posted May 16, 2023 Yellen: She said the accompanying financial crisis could multiply the severity of the downturn, adding, "It is very conceivable that we'd see a number of financial markets break - with worldwide panic triggering margin calls, runs and fire sales." https://www.reuters.com/markets/us/yellen-warns-us-default-could-trigger-recession-break-financial-markets-2023-05-16/ At first I thought I was reading a gold dealer and promoter's newsletter. Link to comment Share on other sites More sharing options...
potatohead Posted May 16, 2023 Report Share Posted May 16, 2023 Lee I get the sense they are going to blame a recession on the debt ceiling debacle. Typical games between Dems and Republicans, while the rest of us suffer. This is just a distraction from what you are seeing in the tax withholding data. Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2023 Author Report Share Posted May 16, 2023 How you hit the debt ceiling in March but you keep borrowing. https://wallstreetexaminer.com/2023/05/treasury-announces-156-day-bill/ Link to comment Share on other sites More sharing options...
fxfox Posted May 16, 2023 Report Share Posted May 16, 2023 Gold in the making of a monster tripple top on the monthly Link to comment Share on other sites More sharing options...
fxfox Posted May 16, 2023 Report Share Posted May 16, 2023 Link to comment Share on other sites More sharing options...
DrStool Posted May 16, 2023 Author Report Share Posted May 16, 2023 just sayin Link to comment Share on other sites More sharing options...
fxfox Posted May 16, 2023 Report Share Posted May 16, 2023 1 hour ago, DrStool said: just sayin Link to comment Share on other sites More sharing options...
MisFit Kid Posted May 16, 2023 Report Share Posted May 16, 2023 Rather odd.....Aces over 4's >: Good Luck to Luton.... Playing for a dream....and a $hit load of money........⚽ Link to comment Share on other sites More sharing options...
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