DrStool Posted December 1, 2023 Report Share Posted December 1, 2023 Here we go again. Groundhog Day. The end of history. Over and over again they keep saying it's the end. But I say they're wrong. We're just at the dawn of correction. For every season, there's a reason. Blah blah. Ah, the caca-phony of Wall Street talking heads. None of it makes any sense. They're all wildly bullish on bonds now. And we're supposed to come piling in to take their inventory on which their choking. Meanwhile, the range of major resistance on the S&P 500 is 4540-4600 give or take a few points. The middle of that range is 4570. Which is right about where the damn thing is again this morning. Is today the day they finally stop playing the reruns? I don't see it. And while my longer term analysis supported an upside breakout, that could be going up in smoke. One of my most reliable secret sentiment indicators has turned firmly bearish. So we'll see. We don't know and neither do they. In the very short run, there's a 2-3 day cycle projection of 4585 that supports a test of this week's high on the ES, 24 hour S&P futures chart. But the hourly oscillators are now in a pause. A little more of a pullback here today would trigger a sell signal from the neutral zone, which is usually a reliable bearish signal. But if they hold it together at 4568 this morning, then we could see a blastoff toward that test of the high, with the hourly oscillators moving back up to their usual maximum upside extensions. So, as I write at 6:25 AM ET, we are at yet another infartion point. For moron the markets, see: Swing Trade Screen Picks – Read My Lips, No New Longs. But a Couple Shorts November 28, 2023 420 Friendly Market November 27, 2023 Gold Sets Up Potential High Base BreakoutNovember 24, 2023 This Chart Tells Us Exactly When the Bull Market Will End November 26, 2023 A Rally Can’t Live on Hope Alone November 20, 2023 Fuggedaboutit! Treasury Supply Ain’t Going Away November 5, 2023 Which to Believe, the BLS or Actual Tax Collections November 3, 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 December 1, 2023 Author Report Share Posted December 1, 2023 My daily swing trade stock screens are still producing a preponderance of buy signals. The numbers are small but there are very few sell signals. Today was 76 to 25 in favor of buys, out of a universe of 1330 screened charts. Using the second signal in the last week criteria the edge was 31 to 4. Many are rangebound whipsaw signals. Hard to find good setups, but definitely fewer on the sell side. Link to comment Share on other sites More sharing options...
fxfox Posted December 1, 2023 Report Share Posted December 1, 2023 European rate yields down huge. Again. Link to comment Share on other sites More sharing options...
specie Posted December 1, 2023 Report Share Posted December 1, 2023 xxgxxoxxlxxdxx Link to comment Share on other sites More sharing options...
fxfox Posted December 1, 2023 Report Share Posted December 1, 2023 Interesting that just a bit of relief on the issuance front is enough to ignite an „everything bubble“. Link to comment Share on other sites More sharing options...
DrStool Posted December 1, 2023 Author Report Share Posted December 1, 2023 My longs have finally gotten out of bed. I hope they stay awake. Link to comment Share on other sites More sharing options...
DrStool Posted December 1, 2023 Author Report Share Posted December 1, 2023 44 minutes ago, fxfox said: European rate yields down huge. Again. Pork wa? Link to comment Share on other sites More sharing options...
DrStool Posted December 1, 2023 Author Report Share Posted December 1, 2023 5 day cycle projection 4630 Link to comment Share on other sites More sharing options...
MisFit Kid Posted December 1, 2023 Report Share Posted December 1, 2023 So the "Market" loves the "Jennifer" Eccles Show...... as usual.......... rate cuts on the horizon if not sooner....... >: with the very easy conditions accroding according to Goldman Sacks? Link to comment Share on other sites More sharing options...
MisFit Kid Posted December 1, 2023 Report Share Posted December 1, 2023 Link to comment Share on other sites More sharing options...
DrStool Posted December 1, 2023 Author Report Share Posted December 1, 2023 Now looks more like 4610. Link to comment Share on other sites More sharing options...
DrStool Posted December 1, 2023 Author Report Share Posted December 1, 2023 13 week cycle projection on the 10 year yield is 4.18. Conventional measured move target of the top breakdown is 3.95. Ouch. This Chart Tells Us Exactly When the Bull Market Will End Link to comment Share on other sites More sharing options...
fxfox Posted December 1, 2023 Report Share Posted December 1, 2023 7 minutes ago, DrStool said: 13 week cycle projection on the 10 year yield is 4.18. Conventional measured move target of the top breakdown is 3.95. Ouch. This Chart Tells Us Exactly When the Bull Market Will End 50 weekly at 4.00, then we will see The 2y is already at the 50, if that doesn‘t hold we go to the 200 at 2.87 Link to comment Share on other sites More sharing options...
The CoinGuy Posted December 1, 2023 Report Share Posted December 1, 2023 I'm pulling this comment...for now. I need to see more in the chart. TCG Link to comment Share on other sites More sharing options...
DrStool Posted December 1, 2023 Author Report Share Posted December 1, 2023 Depends on your time frame. Over the long haul we're all dead. So I grab what I can in the short run. 3-6 weeks. For some, today is payday. Swing Trade Screen Picks – Read My Lips, No New Longs. But a Couple Shorts The interesting thing here is that the screens will spit out a lot more buys than sells after today. Will be interesting to see if there are any charts worth adding on the buy side. I haven't looked at the two short picks, but if they didn't get stopped out earlier this week, they may have been today. Not sure if I will update Monday or Tuesday. Stay tuned. Link to comment Share on other sites More sharing options...
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