DrStool Posted December 8, 2023 Report Share Posted December 8, 2023 Two pictures are worth a thousand words. Ladies and germs, I present two perspectives on the hourly ES, 24 hour S&P 500 fucutures covering the past 2 1/2 weeks. I report, you decide. Perspective number one. Perspective number two. Not really tradeable unless you enjoy being ground to a pulp. Although there's a pretty little wave working. Do we roll over here again? We don't know and neither do they. When it breaks out, we'll know. But of course the first breakout will be a fakeout to suck everybody in, in the wrong direction so that the dealers and stock operators can pick the pockets of their unsuspecting institutional customer herd. Whose side will we choose? The right side, of course. 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 8, 2023 Author Report Share Posted December 8, 2023 My daily swing trade screens of roughly 1300 actively traded stocks trading above $6 did not make a third day in a row of more sell than buy signals. Yesterday's score was 40 to 26 buys to sells. Meaningless information for your morning consumption prior to the daily post coffee elimination round. Swing Trade Screen Picks – November Was a Good Month, List Still Mostly Long 1 Link to comment Share on other sites More sharing options...
DrStool Posted December 8, 2023 Author Report Share Posted December 8, 2023 Here are samples On the sell side: On the buy side: Note the simulacrities. These are absitively, posolutely not reconomendations. They're just examples of the charts that drive people crazy because they're too compracated. The market is compracated. If you can't handle sofistication, just follow Germy Seagull and buy and hold stocks for the long hole. But if you want swing suggestions, then let's dance. Swing Trade Screen Picks – November Was a Good Month, List Still Mostly Long I call these Monday Morning Quarterback Trades. Published weekly on Tuesday. Link to comment Share on other sites More sharing options...
DrStool Posted December 8, 2023 Author Report Share Posted December 8, 2023 To correlate, or not to correlate, that is the question. Gold Got There Fast But Race is Over Link to comment Share on other sites More sharing options...
DrStool Posted December 8, 2023 Author Report Share Posted December 8, 2023 And how did the bond market like the news? It didn't. Tax Revenues and Liquidity are Crashing: Quote The jobs report coming Friday will be based on a survey taken November 12. On that date, HR managers would have been looking at their employee counts as of the end of October. At that point, they were way above the prior month, based withholding tax collections. This implies a positive surprise in jobs growth. That would shatter the goldilocks narrative. Serendipitously, it would be in the opposite direction of the actual drop that happened in November. Link to comment Share on other sites More sharing options...
potatohead Posted December 8, 2023 Report Share Posted December 8, 2023 Is that a proprietary age weighted Fibonacci sequencing model or algorithm? Link to comment Share on other sites More sharing options...
DrStool Posted December 8, 2023 Author Report Share Posted December 8, 2023 Yes. Link to comment Share on other sites More sharing options...
potatohead Posted December 8, 2023 Report Share Posted December 8, 2023 4 minutes ago, DrStool said: Yes. Would seem this moving average screening, focusing more toward puberty and sex drive with less attention toward balding and weight gain Link to comment Share on other sites More sharing options...
fxfox Posted December 8, 2023 Report Share Posted December 8, 2023 1 hour ago, DrStool said: Germy Seagull Link to comment Share on other sites More sharing options...
DrStool Posted December 8, 2023 Author Report Share Posted December 8, 2023 3 hours ago, DrStool said: But of course the first breakout will be a fakeout to suck everybody in, in the wrong direction so that the dealers and stock operators can pick the pockets of their unsuspecting institutional customer herd. Mmmm hmmmm. Link to comment Share on other sites More sharing options...
Jorma Posted December 8, 2023 Report Share Posted December 8, 2023 Saw a blurb saying CA is looking at a $68bn budget shortfall because of falling revenue. The story of the year is weak withholding taxes. It simply does not jibe with observation. Who isn't paying taxes and why? Everybody knows Jerry is going to 'cut rates' by March. Which means QE and everyone wants it. Everyone. Link to comment Share on other sites More sharing options...
DrStool Posted December 8, 2023 Author Report Share Posted December 8, 2023 Yuck. Link to comment Share on other sites More sharing options...
fxfox Posted December 8, 2023 Report Share Posted December 8, 2023 39 minutes ago, Jorma said: Saw a blurb saying CA is looking at a $68bn budget shortfall because of falling revenue. The story of the year is weak withholding taxes. It simply does not jibe with observation. Who isn't paying taxes and why? Everybody knows Jerry is going to 'cut rates' by March. Which means QE and everyone wants it. Everyone. Especially the brain dead nayor of San Fiasco and other lunatics who disguise their incompetence by claiming that they do it for the better good „to save the planet and all of us!“ Link to comment Share on other sites More sharing options...
fxfox Posted December 8, 2023 Report Share Posted December 8, 2023 Nice move in yields, the 10y with strong reaction at the 200 Link to comment Share on other sites More sharing options...
DrStool Posted December 8, 2023 Author Report Share Posted December 8, 2023 5 day cycle projection 4605 overshot. Link to comment Share on other sites More sharing options...
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