DrStool Posted December 7, 2023 Report Share Posted December 7, 2023 Today December 7, 2023 is a day that will live in in... Fill in the blank. The market doesn't seem to know who will win this battle, and I sure don't either. Because we don't know and neither do they. This morning we have tested spport overnight and have the beginnings of a 2-3 day cycle up phase on the ES, 24 hour S&P futures. Resistance is around 4553 in the first hour of NY trading, and then around 4555 at mid day. If they can clear that, then the next target would be around 4565, woopdedoo. If they don't clear it, then we look for a test of the low, with 4535 being the last line of de fence, before a crash all the way to 4530, or even 4525. Can you stomach the excitement? This chart gives perspective on just how big and wild the swings have been over the past 3 weeks. Fasten your seatbelts for more insane turbulence. There may be injuries. Take precautions. Ambulances are on standby. Christmas Goose Temperature Nears Required Doneness For moron the markets, see: Gold Got There Fast But Race is Over December 6, 2023 Swing Trade Screen Picks – November Was a Good Month, List Still Mostly LongDecember 5, 2023 Tax Revenues and Liquidity are Crashing December 4, 2023 Christmas Goose Temperature Nears Required Doneness December 4, 2023 Swing Trade Screen Picks – Read My Lips, No New Longs. But a Couple Shorts November 28, 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 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 7, 2023 Author Report Share Posted December 7, 2023 Another perspective. 😂😂😂😂 Swing Trade Screen Picks – November Was a Good Month, List Still Mostly Long Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 In running my daily stock screens of 1300 issues that meet minimum price and volume requirements, as of yesterday's close there were 29 raw buy signals and 60 raw sell signals. When I say raw, this is before visual review for trend structures. Most of these are usually rangebound whipsaw signals that lead nowhere. It's when there's a signal coupled with a supporting trend structure, that these often have a good move. But the point is that this is the second straight day where sells exceeded buys. There haven't been 3 straight days of this in months. Today will be interesting in that respect. Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 In the ongoing saga of the EUR/USD pair as a leading indicator for US stocks this year for godknowswhy, it continues to point down. This FX trade has led US stock market turns 5 of 7 times in the last year. Christmas Goose Temperature Nears Required Doneness Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 The 10 year Treasury yield has reached a 13 week cycle projection of 4.10. Now what? I'll tell you what. Tax Revenues and Liquidity are Crashing Link to comment Share on other sites More sharing options...
TurdButter Posted December 7, 2023 Report Share Posted December 7, 2023 54 minutes ago, DrStool said: In running my daily stock screens of 1300 issues that meet minimum price and volume requirements, as of yesterday's close there were 29 raw buy signals and 60 raw sell signals. When I say raw, this is before visual review for trend structures. Most of these are usually rangebound whipsaw signals that lead nowhere. It's when there's a signal coupled with a supporting trend structure, that these often have a good move. But the point is that this is the second straight day where sells exceeded buys. There haven't been 3 straight days of this in months. Today will be interesting in that respect. Was there a 3 days straight in the Aug-Oct decline? Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 1 hour ago, TurdButter said: Was there a 3 days straight in the Aug-Oct decline? Quick check at the start 8/1, 2, 3 and 4. Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 Thin on the range. Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 Link to comment Share on other sites More sharing options...
potatohead Posted December 7, 2023 Report Share Posted December 7, 2023 The return on the MAXTM SPX 500® 4X Leveraged ETNs is linked to a four times leveraged participation in the daily performance of the S&P 500® Total Return Index https://www.maxetns.com/product/XXXX.P/ Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 2-3 day cycle projection 4592. Link to comment Share on other sites More sharing options...
Jorma Posted December 7, 2023 Report Share Posted December 7, 2023 Remember, no discouraging words on the range. Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 14 minutes ago, Jorma said: Remember, no discouraging words on the range. Seldom is not never. Link to comment Share on other sites More sharing options...
SiP Posted December 7, 2023 Report Share Posted December 7, 2023 usdjpy wtf! Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2023 Author Report Share Posted December 7, 2023 Here we go loop de loop. Link to comment Share on other sites More sharing options...
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