DrStool Posted August 29 Report Share Posted August 29 I just thought I'd say that. I don't know if it is or not. But it could be. Any moment could be. But this one maybe moreso. Take a look what is potenially two downtrends coming together here on the hourly chart of the ES, 24 hour S&P fuguetures. What would confirm? First an hourly close before 4428, then another below 4420. It would give the bears a foothold. A Soft Round Bottom, or V for Violence On the other hand, a strong push through 4446 could prompt a runaway bull stampede. Not likely with all the head traders still at their Hamptons retreats. Meanwhile the 10 year Treasury yield has broken its short term uptrend. Well.. sorta. If it hangs around 4.15 for a few days or weeks, bondholders are gonna be in a world of hurt sooner rather than later. Check it out! Here’s Why This Is a No Clickbait Market for Primary Dealers For moron the markets, see: A Soft Round Bottom, or V for Violence August 27, 2023 Here’s Why Gold Needs 2020 Vision August 25, 2023 Here’s Why This Is a No Clickbait Market for Primary Dealers August 24, 2023 Weak Week but List Stays Net Positive August 22, 2023 One Banking Indicator Is Flashing Bright Red for Stocks August 16, 2023 More Supply is Just a Lie But Withholding Weakens August 4, 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...
fxfox Posted August 29 Report Share Posted August 29 Consumer Confi drop like a turd JOLTS down market plays "top in rates is in" now Link to comment Share on other sites More sharing options...
fxfox Posted August 29 Report Share Posted August 29 Last weeks CASH high broken, but not the FUTURES high. Link to comment Share on other sites More sharing options...
DrStool Posted August 29 Author Report Share Posted August 29 La raison du jour Link to comment Share on other sites More sharing options...
DrStool Posted August 29 Author Report Share Posted August 29 So much for the Hamptons. Link to comment Share on other sites More sharing options...
DrStool Posted August 29 Author Report Share Posted August 29 I was going to buy some of my picks this morning but I decided to go out for the day first. I always have such great timing. Link to comment Share on other sites More sharing options...
fxfox Posted August 29 Report Share Posted August 29 56 minutes ago, DrStool said: So much for the Hamptons. Yep. Seems like this markets goal is to kill every traditional narrative: April was up not down, „sell in May“ would have been a mistake, and so on… Link to comment Share on other sites More sharing options...
DrStool Posted August 29 Author Report Share Posted August 29 Or we live in a random universe and Burton Malkiel was right. Wait was that his name? Link to comment Share on other sites More sharing options...
fxfox Posted August 29 Report Share Posted August 29 19 minutes ago, DrStool said: Or we live in a random universe and Burton Malkiel was right. Wait was that his name? Link to comment Share on other sites More sharing options...
DrStool Posted August 29 Author Report Share Posted August 29 This monster has a measured move objective of 4590 on the breakout. The 5 day cycle projection could be even higher. I need to see a few more bars on that, but it's at least that high. Link to comment Share on other sites More sharing options...
DrStool Posted August 29 Author Report Share Posted August 29 This looks like the resynchronization that I warned about. A Soft Round Bottom, or V for Violence 1 Link to comment Share on other sites More sharing options...
fxfox Posted August 29 Report Share Posted August 29 Link to comment Share on other sites More sharing options...
DrStool Posted August 29 Author Report Share Posted August 29 I was wrong. 5 day cycle projection only 4575. Good night. Link to comment Share on other sites More sharing options...
potatohead Posted August 29 Report Share Posted August 29 1 hour ago, DrStool said: This monster has a measured move objective of 4590 on the breakout. The 5 day cycle projection could be even higher. I need to see a few more bars on that, but it's at least that high. Link to comment Share on other sites More sharing options...
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