DrStool Posted October 24, 2023 Report Share Posted October 24, 2023 An overnight melt-up wiped out 3/4 of yesterday's late selloff. European hedge funds and other assorted algos covered shorts and set up more hedges. Now what? Nobody knows, least of all me. Technically, the ES 24 hour S&P futures have a 5 day cycle projection around 4260. Ideally, the 5 day cycle high would be due around noon New York Time. Resistance is indicated at 4258. If they clear that, it would complete a bottom pattern with a conventional measured move target of 4325-30. If they pull back from here, trend spport comes in at 4230 in the opening half hour of regular trading. That line rises to 4240 at the close. Bears need that to break to retake control and put a crash back in play. Beware of Bear Market Crash Potential Over in Gary, US Bond land, we had recognized that 5% was a probable short term top in the 10 year yield. But oh my gawd. What if they don't drop it under 4.80. Well, see for yourself. This thing could accelerate straight to da moon. I have an update coming up on the liquidity front, but meanwhile here's the latest. Gold has had an explosive move since war broke out in the Middle East. But will it sustain? When the Market Is Ready, an Event Will Appear It's pretty obvious what the metal must do to confirm its bullish bona fides. For moron the markets, see: Beware of Bear Market Crash Potential October 23, 2023 Swing Trade Screen Picks – Which is Better, Late or Never? October 23, 2023 When the Market Is Ready, an Event Will Appear October 16, 2023 Dealers Pull In Their Horns October 14, 2023 Veal Market – Baby Calves Get Slaughtered October 9, 2023 Gold Breaks Down, With Long Term Implications October 5, 2023 Tepid Tax Collections Mean It’s the Supply October 4, 2023 The Rhymes of History September 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...
fxfox Posted October 24, 2023 Report Share Posted October 24, 2023 Mafiasoft and Giggle will disappoint after ze bell. just kidding. 😂 Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2023 Author Report Share Posted October 24, 2023 And there you have it. Link to comment Share on other sites More sharing options...
fxfox Posted October 24, 2023 Report Share Posted October 24, 2023 III liquidity 😉😂 Link to comment Share on other sites More sharing options...
Jorma Posted October 24, 2023 Report Share Posted October 24, 2023 KISS https://fred.stlouisfed.org/series/M2NS Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2023 Author Report Share Posted October 24, 2023 2:30 turn time. Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2023 Author Report Share Posted October 24, 2023 Chaos Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2023 Author Report Share Posted October 24, 2023 4 hours ago, fxfox said: Mafiasoft and Giggle will disappoint after ze bell. just kidding. 😂 Sell the news irregardless. Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2023 Author Report Share Posted October 24, 2023 Because the internal rate of return doesn't matter. Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2023 Author Report Share Posted October 24, 2023 There's zero chance that the market will move in the last hour. Unless somebody knows something. Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2023 Author Report Share Posted October 24, 2023 Helluva base if they clear 4260. Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2023 Author Report Share Posted October 24, 2023 It would measure to 4330. Link to comment Share on other sites More sharing options...
fxfox Posted October 24, 2023 Report Share Posted October 24, 2023 Mafia beats, up 5%, CNBC guy freaks out, ejaculates in front of camera Link to comment Share on other sites More sharing options...
fxfox Posted October 24, 2023 Report Share Posted October 24, 2023 Texas Instruments disappoints, down 5%, cowboy runs amok in studio Link to comment Share on other sites More sharing options...
fxfox Posted October 24, 2023 Report Share Posted October 24, 2023 Alphabet misses, down 5%, CNBC lady is crying, calls her mother and asks how she should go on in life Link to comment Share on other sites More sharing options...
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