DrStool Posted October 25, 2023 Report Share Posted October 25, 2023 It's 4224 on the ES, 24 hour S&P futures. If it holds above that, bulls are in charge. If it breaks, then bears ball. But unfortunately, there are so many crosscurrents in this rangebound monstrosity, that I'd be hard pressed to conclude that any move can be sustained before. In fact any move that takes place between 4189 and 4267 could be viewed as random, rangebound news. Based on the hourly chart as it is currently set up, I wouldn't hazard a guess as to which way the breakout will finally be. I do post the big picture outlook in the Technical Trader, and there are some good reasons to guess that when the breakout comes, it will be to the downside. On the other hand, if they can clear 4267 today, we can put that thesis aside for now. Over in the bonds, the 10 year yield looks poised to test 5% again. If that's cleared the next target in terms of longer intermediate term cycle projections would be 5.20. In the long run, that's not even close to the end. Nor would it be the beginning of the end. But it could be the end of the beginning. For the few goldbugs still among us, until the metal crosses 2010, nothing has happened yet. But if it does achieve that distinction then the projection is for a test of the 2087 high. Perhaps by the year 2087. When the Market Is Ready, an Event Will Appear 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...
DrStool Posted October 25, 2023 Author Report Share Posted October 25, 2023 YAHL Yet another higher low. Link to comment Share on other sites More sharing options...
DrStool Posted October 25, 2023 Author Report Share Posted October 25, 2023 The bullish resiliency of this market is annoying to say the least. Link to comment Share on other sites More sharing options...
specie Posted October 25, 2023 Report Share Posted October 25, 2023 Wasn't the name of the new fed program a hint. BTFP? The whole mantra for a while has been BTFD. I'm sure they were laughing when they named the program. Turn in your bad bonds get newly printed fresh dollars. What could go wrong. Link to comment Share on other sites More sharing options...
TurdButter Posted October 25, 2023 Report Share Posted October 25, 2023 Nothing like panic for shocks now. No panic, but growing irritation and 'concern', in debt markets. But if institutions- banks, insurers, pensions-had to publically mark to market their bond portfolios- complete and utter freak out. Guns, dope 'n fuckin' in the streets! Link to comment Share on other sites More sharing options...
DrStool Posted October 25, 2023 Author Report Share Posted October 25, 2023 Busted. Link to comment Share on other sites More sharing options...
fxfox Posted October 25, 2023 Report Share Posted October 25, 2023 1 hour ago, specie said: Wasn't the name of the new fed program a hint. BTFP? The whole mantra for a while has been BTFD. I'm sure they were laughing when they named the program. Turn in your bad bonds get newly printed fresh dollars. What could go wrong. Good point. I'm absolutely sure they had the "BTFD" acronym in mind when they thoight about the name of the new programme. And they did laugh. Yes. Link to comment Share on other sites More sharing options...
fxfox Posted October 25, 2023 Report Share Posted October 25, 2023 1 hour ago, DrStool said: The bullish resiliency of this market is annoying to say the least. That's cause all those whom were their student loan debt forgiven, took that "windfall profit" and threw it directly into an NDX fund. Link to comment Share on other sites More sharing options...
fxfox Posted October 25, 2023 Report Share Posted October 25, 2023 Yield curve starts to re-invert. Oldtimers - who know of course nothing - say: Be carefull when yield curve re-inverts, cause that's when the shit really starts to hit the fan... Link to comment Share on other sites More sharing options...
DrStool Posted October 25, 2023 Author Report Share Posted October 25, 2023 8 minutes ago, fxfox said: Good point. I'm absolutely sure they had the "BTFD" acronym in mind when they thoight about the name of the new programme. And they did laugh. Yes. When the program was first announced, in my first anal is is of it in Liquidity Trader, thas wha I called it. Link to comment Share on other sites More sharing options...
fxfox Posted October 25, 2023 Report Share Posted October 25, 2023 Danaher (DHR) monthly chart with EMA 50 the stock does right now something it did only once since 1983: It starts to trade below the EMA 50. The exeception was 2008... Link to comment Share on other sites More sharing options...
DrStool Posted October 25, 2023 Author Report Share Posted October 25, 2023 It was on my screens this morning as a sell. I had it on my watchlist to short but it moved ahead of me. I will look at the reaction rally for possible entry. Link to comment Share on other sites More sharing options...
fxfox Posted October 25, 2023 Report Share Posted October 25, 2023 5 minutes ago, DrStool said: It was on my screens this morning as a sell. I had it on my watchlist to short but it moved ahead of me. I will look at the reaction rally for possible entry. Good luck. Target. EMA 200 monthly Link to comment Share on other sites More sharing options...
fxfox Posted October 25, 2023 Report Share Posted October 25, 2023 Look how weak Mr Russ T. is: just 25 points away from the Sep/Oct 2022 lows. The whole upmove in the market was a bear market rally and Mr Russ T. shows that. Link to comment Share on other sites More sharing options...
DrStool Posted October 25, 2023 Author Report Share Posted October 25, 2023 In 3 minutes it will be 10:30 turn time. That is all. Link to comment Share on other sites More sharing options...
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