DrStool Posted September 6, 2023 Report Share Posted September 6, 2023 Is now building off the coast of A Frick A. The question is whether it will pose a threat to the US. Stay tooned for fudder developments. Meanwhile, I will be moving around today and won't see much of you here until late. But let us note several signs of a market top formation. The first is the hourly chart of the ES, 24 hour S&P futures. It has a measured move target of 4465, give or take. 5 day cycle projection is also around there. The second is the fact that nobody was here yesterday. That's a contrarian top signal. The third is that I am heavily long in my trading account. That's the best contrarian top signal I can think of. Classic BTFD Setup Or Not And, My oh my! 10 Year Treasury Yield. Beware! Jobs Really Much Weaker Than They Say For moron the markets, see: Classic BTFD Setup Or Not September 5, 2023 Beware! Jobs Really Much Weaker Than They Say September 4, 2023 Gold Makes Case for Synchronized Low September 2, 2023 Last Week Was Solid, Adding Longs Now August 29, 2023 Here’s Why This Is a No Clickbait Market for Primary Dealers August 24, 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...
Jorma Posted September 6, 2023 Report Share Posted September 6, 2023 I've been checking the news like most mornings but I don't see anything unusual. https://duckduckgo.com/?q=world+weekly+news&atb=v348-1&ia=images&iax=images Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2023 Author Report Share Posted September 6, 2023 Well, isn't that special! It broke out of the channel and the five day cycle projection dropped to 4455. Link to comment Share on other sites More sharing options...
potatohead Posted September 6, 2023 Report Share Posted September 6, 2023 2 hours ago, DrStool said: Well, isn't that special! It broke out of the channel and the five day cycle projection dropped to 4455. category 4455 hurricane......no pun intended Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2023 Author Report Share Posted September 6, 2023 The Treasury continues to crush the market with T-bills. Yet stocks barely hiccup. But the bond market is puking. Link to comment Share on other sites More sharing options...
WTF Posted September 6, 2023 Report Share Posted September 6, 2023 13 minutes ago, DrStool said: The Treasury continues to crush the market with T-bills. Yet stocks barely hiccup. But the bond market is puking. Strange... wonder which one is lying? 💩 Link to comment Share on other sites More sharing options...
WTF Posted September 6, 2023 Report Share Posted September 6, 2023 XOI following 5/2005 to 5/2008... ⏲️TTMF... gap at 600 will be filled... Link to comment Share on other sites More sharing options...
DrStool Posted September 6, 2023 Author Report Share Posted September 6, 2023 55 minutes ago, WTF said: Strange... wonder which one is lying? 💩 Nobody. They are just markets where buyers and sellers interact and price is the intersection of supply and demand at a given moment. Link to comment Share on other sites More sharing options...
WTF Posted September 6, 2023 Report Share Posted September 6, 2023 20 minutes ago, DrStool said: Nobody. They are just markets where buyers and sellers interact and price is the intersection of supply and demand at a given moment. Interesting... I would have never figured you for a market efficiency guy... If markets are efficient, then all information is already incorporated into the price, and so there is no way to "beat" the market because there are no undervalued or overvalued securities available. Link to comment Share on other sites More sharing options...
Jorma Posted September 6, 2023 Report Share Posted September 6, 2023 1 hour ago, WTF said: Interesting... I would have never figured you for a market efficiency guy... If markets are efficient, then all information is already incorporated into the price, and so there is no way to "beat" the market because there are no undervalued or overvalued securities available. It isn't market efficiency, it's liquidity sufficiency. Link to comment Share on other sites More sharing options...
Jimbo Posted September 7, 2023 Report Share Posted September 7, 2023 EFFICIENCY VS LIQUIDITY Yes...the market price (MP) is determined by the supply of liquidity. The MP is not determined by efficiency....prices are not efficient. Liquidty is like the tide....like the current......that pushes the price around. High liquidity leads to high asset prices and vice versa. We are currently going through a period where the FED is withdrawing liquidity while the US government is increasing the dermand for liquidity. The expression for all this action is found in the short term bond market. Its not pretty. Link to comment Share on other sites More sharing options...
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