DrStool Posted September 21, 2023 Report Share Posted September 21, 2023 Today's lesson. When you live in France, never take the evening off to go out to dinner, when Odd Uncle Jerry is having one of his weird Wall Street media kiddie porn shows. I as yet have no idea what he said that triggered this, but the pickings were apparently ripe. Frankly, I missed the signs. There were warnings in the liquidity picture that suggested that a top could be at hand, but the technical timing suggested otherwise. I cast my lot with the technical. Barring a miraculous recovery today, that was just fucking stupid. Approaching 6 AM ET, the market continues to sink, with the ES, 24 hour S&P fuguetures pointing to 2-3 day and 5 day cycle projections of 4380, or possibly 4360 on the 5 day. We're there now with 3 day and 5 day cycle lows a bit overdue. That's ideally speaking. Anyone who came back from dinner with their longs still on is shitting blood and praying for a bounce right now. Shape of the 6-month Cycle Bottom Meanwhile, the 10 year yield looks like the big show with an enormous high base breakout over the past couple of days. It measures to 5.40. Without policy easing, that won't be the end of it either as I have been shrilly warning since Q3 2020 in Liquidity Trader. Update coming soon. Keep your dial set here and stay tuned. Or in terms of price, TLT chart not showing the breakdown yet, but you get the idea. For moron the markets, see: Screen Picks – An Awful Week, But Hold On a Minute! September 18, 2023 Shape of the 6-month Cycle Bottom September 17, 2023 Gold Teeters Toward Disaster September 13, 2023 Here’s Why This Stuck Market Is Not Surprising September 13, 2023 Beware! Jobs Really Much Weaker Than They Say September 4, 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...
TurdButter Posted September 21, 2023 Report Share Posted September 21, 2023 Bottom appears to be spackled with MudButt and encrusted with hemorrhoids. Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 Oh the imagery. Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 Gold’s Flat Squeeze Tightens LEE ADLER 3 - GOLD TRADER SEPTEMBER 21, 2023 Flat is as flat does, but a big break is coming. I have added another pick to the miners’ swing trades. Non-subscribers click here for access. Subscribers, click here to download the report. I have added another buy to the miners’ swing picks, bringing the total to 6 now. Non-subscribers click here for access. Try Lee Adler’s Gold Trader risk free for 90 days! Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 My longs are getting pounded and my shorts are rallying. WTF Must be opposite day. Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 But seriously folks. Suggests forced liquidation regardless of direction. The margin man has come a knockin. Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 They're blowing out the cycle projections. Intraday spport target 4350. Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 None of the 3-4-5 day cycle basis projections currently point below 4360. Link to comment Share on other sites More sharing options...
Jorma Posted September 21, 2023 Report Share Posted September 21, 2023 OMG we haven't been this low for 3 weeks. Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 Every 10 minute uptick gets hit hard. Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 Dinner party. Gotta go. You know what that means. Link to comment Share on other sites More sharing options...
fxfox Posted September 21, 2023 Report Share Posted September 21, 2023 1 hour ago, DrStool said: Dinner party. Gotta go. You know what that means. 3 Mojito‘s? Link to comment Share on other sites More sharing options...
DrStool Posted September 21, 2023 Author Report Share Posted September 21, 2023 2:30 turn time was down. Good for bears. Bad for me. Link to comment Share on other sites More sharing options...
BurntOnce Posted September 21, 2023 Report Share Posted September 21, 2023 silva is the only green on the screen. Link to comment Share on other sites More sharing options...
specie Posted September 21, 2023 Report Share Posted September 21, 2023 Those bank stocks look just like they did on September 6, 2001 Link to comment Share on other sites More sharing options...
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