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Which Leg to Lift When You See a Fire Hydrant 10/17/23

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A stalled, messy, rangebound market leaves a chopped up chart picture on the ES 24 hour S&P futures. But a 5 day cycle projection points to 4400. So I have both longs and shorts in my trading port today. Of course I expect to profit from neither. Trading is not my for tay. Anal is is, yes! . Cycles Still Lean One Way, Not t’Other

There are mostly green channels on this chart. There's one little red flag, literally. If the ES is above 4367 at the NY open, then it's a bullish red flag. Only if the market is below 4350 at noon ET, will the outlook be redder. 

I won't try to guess now which way this will tilt. I just hope to lift the right leg when the time comes.


Next, I asked my Magic 8 Ball if the US Treasury 10 year yield was heading for 5% and beyond. Here was the response. 


Here's one reason why. Dealers Pull In Their Horns


I then asked it if gold would again exceed 2000. It was less committal. It seems that it will withhold the answer until after today. When the Market Is Ready, an Event Will Appear


For moron the markets, see:

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When the reversals come...better respect the direction because the hits will keep on coming.

I myself am watching the ^XOI closely for a triple top...or an explosion out of the wall at 1,920.

Across ALL markets...the dominoes are lining up.

We're getting close...to something.

The CoinGuy

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