DrStool Posted May 18, 2023 Report Share Posted May 18, 2023 I don't know the answer for sure, but I don't think so. Meanwhile, back at the hourly chart the the ES 24 hour S&P fugutures, we have another minor new high in this up phase. They're pulling back, but probably needs to be below 4157 by noon in New York for it to matter. For moron the markets, see: Swing Trade Chart Picks – Let’s Get Ready to Rumble May 18, 2023 The Most Widely Forecast Economic Disaster In History May 16, 2023 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 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. 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...
DrStool Posted May 18, 2023 Author Report Share Posted May 18, 2023 Starting line. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2023 Author Report Share Posted May 18, 2023 And we start with a boing right off the trend lines. Link to comment Share on other sites More sharing options...
PullMyFinger Posted May 18, 2023 Report Share Posted May 18, 2023 NQ just took out the August '22 highs . . . Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2023 Author Report Share Posted May 18, 2023 New channel. 5 day cycle projection now 4185. No accident I guess that so many buys have been showing up in swing trade screens in recent weeks. But there's resistant right here. Let's see what they do with it. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2023 Author Report Share Posted May 18, 2023 Hourly oscillators suggest a top here but they need to break to confirm. Link to comment Share on other sites More sharing options...
MisFit Kid Posted May 18, 2023 Report Share Posted May 18, 2023 1970's - so as the "big 3" go, so goes the USA..... 2020's - as the "Mega Big 6", so goes the world...... oh yeah, and AI, gotta say it just because....... Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2023 Author Report Share Posted May 18, 2023 Nervous in Port Jervis. Out to dinner! Link to comment Share on other sites More sharing options...
SiP Posted May 18, 2023 Report Share Posted May 18, 2023 Buy everything, its your last chance before spx hit 5000. Link to comment Share on other sites More sharing options...
SiP Posted May 18, 2023 Report Share Posted May 18, 2023 anyone buying KRE? maybe at least move to 70 from 40? Link to comment Share on other sites More sharing options...
SiP Posted May 18, 2023 Report Share Posted May 18, 2023 Nvidia - amazing moves Link to comment Share on other sites More sharing options...
SiP Posted May 18, 2023 Report Share Posted May 18, 2023 German Dax broke to the upside! It will attack the last high and then make new all time high. Link to comment Share on other sites More sharing options...
fxfox Posted May 18, 2023 Report Share Posted May 18, 2023 1 hour ago, SiP said: German Dax broke to the upside! It will attack the last high and then make new all time high. See, the thing is this: In 2000-2003 and in 2007-2009 Europe was no where by any means close to reach new ATH. It actually LEAD the downmove and it was absolutely devastating. This bear is over and it lasted till Oct 22. if we go several 100 points down plays mo role. The inner core of the bear is behind us. Regional banks? Who cares? There are 4000 banks in the US. That‘s 3600 too many compared to Europe. They could all go bk and the overall system would still be alive. Any downmove which comes close to the Oct lows.after the debt ceiling is lifted, is a buying opportunity. Link to comment Share on other sites More sharing options...
fxfox Posted May 18, 2023 Report Share Posted May 18, 2023 You have to look at markets as a whole. 2022 was one of the most devastating markets of all time. If you look only at S&P500, which is a victim of indexing, you don‘t see it. Look at bonds too. THEN you see it. Never forget: The REAL investment world looks at bonds, they give a damn about stocks. Those are only for wall street porn. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2023 Author Report Share Posted May 18, 2023 5 day cycle projection now 4200. Base breakout measures to 4210. Also trend resistance there. Link to comment Share on other sites More sharing options...
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