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Turning Point 8/29

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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:

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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.

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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…

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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. 

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