DrStool Posted August 21, 2023 Report Share Posted August 21, 2023 We humans try to explain everything that happens in the market. We always need a reason. But much of it can simply be explained as random shit. That's why I try to focus more on the what than the why. Because the what at least gives us a certain percentage of predictability. We just need that percentage to be a hair above 50%. If we get to 70% that's like the holy Grail. Meanwhile today is a travel day for me. I'm on my way from the gorgeous city of Lille France for one week stop to relax in Rouen Normandy. Lille was a shocking revelation to me. I think it is the most beautiful medium sized city that I have seen in Europe. And it's a real bargain in terms of what it offers. I highly recommend a visit. As for today's market, the ES 24-hour s&p futures chart has come off a nice 5-day cycle though with a breakout from a symmetrical bottom pattern that measures to 4405. I will be back with a better chart, and cycle projections later! Weaker Than It Should Be Means Worse To Come LEE ADLER 2 - TECHNICAL TRADER AUGUST 20, 2023 We expected an intermediate top, but as of right now, the market is on the brink of being weaker than it should be in cycle structures. Here’s how it sets up, along with what to look for this week that will tell us whether this will get worse. 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! For moron the markets, see: Weaker Than It Should Be Means Worse To Come August 20, 2023 Gold and Miners Set Up Ugly August 17, 2023 One Banking Indicator Is Flashing Bright Red for Stocks August 16, 2023 I Liked the Buys Better Than the Sells August 14, 2023 More Supply is Just a Lie But Withholding Weakens August 4, 2023 Let the Scary Pictures On Primary Dealer Financing Do the Talking July 31, 2023 Correlations Don’t Matter Until They Do, Like Now July 23, 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. Link to comment Share on other sites More sharing options...
DrStool Posted August 21, 2023 Author Report Share Posted August 21, 2023 The 5 day cycle projection is also around 4405. Link to comment Share on other sites More sharing options...
DrStool Posted August 21, 2023 Author Report Share Posted August 21, 2023 5 day cycle high is due this afternoon. I have to change trains in Paris at different stations. Crosstown from Gare du Nord to Gare St. Lazare by bus. Plenty of time. 1 hr 5 minutes between arrival and departure. SNCF doesn't make it easy sometimes. I remember the first time I had to do this 7 years ago. It was terrifying. One of the most stressful experiences I ever had. Now, it's a piece of cake. I usually stop at Paul for it. The cake. A plus tard! Link to comment Share on other sites More sharing options...
fxfox Posted August 21, 2023 Report Share Posted August 21, 2023 The 10 year just broke the Oct 22 high… Link to comment Share on other sites More sharing options...
fxfox Posted August 21, 2023 Report Share Posted August 21, 2023 Netflix monthly chart: look at the current and last 2 months candles, classic reversal pattern. Link to comment Share on other sites More sharing options...
fxfox Posted August 21, 2023 Report Share Posted August 21, 2023 On Friday Jaqueson Owl, could be a turning point, but does not necessarily mean a turning point down… Nvidia on Wednesday, with all those manic price targets given the last few days by big banks they better bring absolute mega blockbuster earnings… Link to comment Share on other sites More sharing options...
Jorma Posted August 21, 2023 Report Share Posted August 21, 2023 I'd like to see Jerry and Janet perform Jackson. Link to comment Share on other sites More sharing options...
DrStool Posted August 21, 2023 Author Report Share Posted August 21, 2023 That was a nice little shakeout they did there. Course it stablishes a better base. But I don't yet have a either a 2-3 day or 5 cycle projection higher than 4405. Link to comment Share on other sites More sharing options...
WTF Posted August 21, 2023 Report Share Posted August 21, 2023 Per TD Ameritrade - NVDA: Corporate insiders sold a net $191.6M of stock in the last 3 months... probably just needed a little walking around money. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.