DrStool Posted August 22, 2023 Report Share Posted August 22, 2023 That would be the conventional measured move implication if the ES, 24 hour S&P futures break out above 4420. However, as of now the 5 day cycle projection only points to 4445-50. There's plenty of resistance indicated on the charts in that area to stop the upward momentum. It should result in pushback. But it would be very bullish if cleared. 2-3 day cycle projections only point to 4445 also, but shifting to a 4 day basis, we're getting 4490-95. So I would not place a bet against that happening. Weak Week but List Stays Net Positive And then there's this to worry about. Liquidity Trader- Money Trends Which is the mirror of the unfolding of this catastrophe, first charted as such more than 18 months ago. For moron the markets, see: Weak Week but List Stays Net Positive August 22, 2023 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...
SiP Posted August 22, 2023 Report Share Posted August 22, 2023 For almost a week now, the price of the dollar index DX.F has been creating increasing pressure to break out of the supply line held after the peaks of March 8 and May 31. The bulls have managed to get out and stay above the SMA200 average. This indicates a growing sentiment towards the dollar, but the breakout as such is not there for now, and from here a turn to the south may well follow. We are waiting for a resolution, which should come in the not too distant future. Link to comment Share on other sites More sharing options...
SiP Posted August 22, 2023 Report Share Posted August 22, 2023 Link to comment Share on other sites More sharing options...
DrStool Posted August 22, 2023 Author Report Share Posted August 22, 2023 Could be a sell signal, but I think it's a Shake and Bake. Link to comment Share on other sites More sharing options...
WTF Posted August 22, 2023 Report Share Posted August 22, 2023 Caveat emptor... Link to comment Share on other sites More sharing options...
DrStool Posted August 22, 2023 Author Report Share Posted August 22, 2023 Here's where it gets interesting. Link to comment Share on other sites More sharing options...
SiP Posted August 23, 2023 Report Share Posted August 23, 2023 ugly pmi numbers from EZ countries+uk. dollar up Link to comment Share on other sites More sharing options...
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