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Dare I Say 7/31/23

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Up, up, and away?

But before that I do want to say that I enjoyed meeting FXfox in his hometown of Heidelberg, Germany yesterday. We took a walk on the Philosopher's Path above the Neckar River. How appropriate, huh? ūüėĄ I got a little history of the city. Another beautiful town on my itinerary around one of my two ancestral homelands. Thanks to Foxy for the tour and conversation!¬†

Meanwhile, back to my beautiful balloon market, it looks like they're lifting off in another green channel that just formed overnight. The preliminary nominal 5 day cycle projection is 4620-25. The period of the last wave was 4 days. Using that as a basis for projection I get 4610. And on a 2-3 day cycle basis I get 4600-05. In other words, double top. So pick your poison. 

I like the idea of a trip to the upper trendlines around 4620-25 this afternoon.  Rally is Tired But Here’s Why Not to Go Short

10v6n2

What about the 10 year yield? Is it gonna break out? A 6 month cycle projection says 4.15. 1 year cycle projection 4.30. Slow but steady as she goes.  Correlations Don’t Matter Until They Do, Like Now

10v6oc

Is it just me, or does the chartogold not look like the 10 year Treasury yield? And whatzat mean? Gold Marks Time

10v6qe

For moron the markets, see:

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Go watch Oppenheimer film - great! pretty long (3h) and more about moral problems, politics. If you want action movie then go see Mission Impossible 7. great show.

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1 hour ago, DrStool said:

 

But before that I do want to say that I enjoyed meeting FXfox in his hometown of Heidelberg, Germany yesterday. We took a walk on the Philosopher's Path above the Neckar River. How appropriate, huh? ūüėĄ I got a little history of the city. Another beautiful town on my itinerary around one of my two ancestral homelands. Thanks to Foxy for the tour and conversation!¬†

 

 

It was a pleasure to meet you Doc! B) Like meeting an old friend after 20 years :)

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31 minutes ago, fxfox said:

It was a pleasure to meet you Doc! B) Like meeting an old friend after 20 years :)

Yup! It was fun! 

Heidelberg is beautiful! 

Tomorrow, I head to Mulhouse France. 

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RRP slush fund sees $90 billion in end of month window dressing inflows. 

That'll let some air out of the bubble today. See how much is withdrawn Tamara

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still inconclusive but we got a number

Zdjńôcie

"Like homeowners who took out mortgages when rates were low in 20/21, the Fed's rate increases have had only limited impact on corporates. However, the wall of maturities is looming, as indicated by the rapidly falling index maturity"

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43 minutes ago, potatohead said:

US TREASURY BOOSTS JULY-SEPTEMBER QUARTERLY BORROWING EST. TO $1 TLN, PREVIOUSLY SAW JULY-SEPTEMBER BORROWING AT $733 BLN.

Must look at whether this is issuance that already took place in July that they underestimated, or an increase in the August-September amounts, or a little of both. 

The May forecast called for $533 billion in T-bill issuance for all of Q3. They did $350 billion in July alone. 

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