DrStool Posted January 5 Report Share Posted January 5 The ES, 24 hour S&P futures have now broken down from a top pattern with a conventional measured move implication of 4595. However, the 2-3 day cycle projection only points to 4665. That's also a minor spport level. In the very short run, I'd look for a bounce to start from here or there. They're trying to rally now, as of 8:20 AM ET. The first test of strength will be trend resistance around 4690 now, dropping to 4692 in the opening hour of regular NY trading. For moron the markets, see: Critical Pullback for Gold January 4, 2024 US Economy Didn’t Crash in December? January 4, 2024 US Economy Crashed in December – Nope, See Update January 3, 2024 Swing Trade Screen Picks – Starting the New Year with a Bad Idea January 3, 2024 Now, Take a Deep Breath January 2, 2024 Macro Liquidity – The Party’s Over January 1, 2024 Dealers Stay Extended December 16, 2023 This Chart Tells Us Exactly When the Bull Market Will End November 26, 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 January 5 Author Report Share Posted January 5 The 10 year Treasury yield appears to be in the early stages of a bearish upleg. The first true test will be 4.08-.09. If cleared, next stop 4.25. There's a hell of a lot of supply on the way. Batten down the hatches. Meanwhile, I continue to track gold, thinking that someday, somewhere, when you least expect it, something will happen. This would be as good a place as any. Link to comment Share on other sites More sharing options...
Jorma Posted January 5 Report Share Posted January 5 Like a story that starts with a lottery winner and that soon involves strippers, a story about Crypto and then hedge funds is certain to end in tragedy. Crypto hedge fund CEO may not exist; probe finds no record of identity https://arstechnica.com/tech-policy/2024/01/crypto-hedge-fund-ceo-may-not-exist-probe-finds-no-record-of-identity/ Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 9 minutes ago, Jorma said: Like a story that starts with a lottery winner and that soon involves strippers, a story about Crypto and then hedge funds is certain to end in tragedy. Crypto hedge fund CEO may not exist; probe finds no record of identity https://arstechnica.com/tech-policy/2024/01/crypto-hedge-fund-ceo-may-not-exist-probe-finds-no-record-of-identity/ It is hard to believe that anyone puts money into this shit. I stand by my stand. BTC is the scam heard round the world. Its only value is for money laundering and getting cash out of Chiner. I suspect that we will live to see the day when it is down 99%. Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 1 hour ago, DrStool said: However, the 2-3 day cycle projection only points to 4665. That's also a minor spport level. In the very short run, I'd look for a bounce to start from here or there. Mmm hmmm. That's it. Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 This negates the breakdown, barring a finger. Link to comment Share on other sites More sharing options...
potatohead Posted January 5 Report Share Posted January 5 1 hour ago, Jorma said: Like a story that starts with a lottery winner and that soon involves strippers, a story about Crypto and then hedge funds is certain to end in tragedy. Crypto hedge fund CEO may not exist; probe finds no record of identity https://arstechnica.com/tech-policy/2024/01/crypto-hedge-fund-ceo-may-not-exist-probe-finds-no-record-of-identity/ Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 Friggin awesome. Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 Finger insertion alert. Full insertion below 4693. Link to comment Share on other sites More sharing options...
specie Posted January 5 Report Share Posted January 5 I would imagine that creating millions of imaginary jobs out of thin air can work for a while but might eventually create issues. Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 Start the timer for a return to QE. https://www.ft.com/content/01322e44-91d8-48f3-bf8c-d590e330cc22 Link to comment Share on other sites More sharing options...
DrStool Posted January 5 Author Report Share Posted January 5 Bonne nuit et bonne chance. Link to comment Share on other sites More sharing options...
fxfox Posted January 5 Report Share Posted January 5 3 minutes ago, DrStool said: Start the timer for a return to QE. https://www.ft.com/content/01322e44-91d8-48f3-bf8c-d590e330cc22 Yep. But first the famous „March low“. Link to comment Share on other sites More sharing options...
fxfox Posted January 5 Report Share Posted January 5 It is enough if you have heard Biden and Yellen today to know that they will do EVERYTHING to keep markets up into the election. They ordered of course the manipulation of the jobs data from the Bullshit Liar Squad all year. That‘s why it always gets revised it down. Once the slush fund is empty they will replace it with another instrument to pump liqui. It will not be called „QE“ but it will work like it. Link to comment Share on other sites More sharing options...
SiP Posted January 6 Report Share Posted January 6 Big news in the minutes of the December Federal Open Market Committee Meeting released earlier this week, policymakers said it would be appropriate to begin discussing the factors that would guide the central bank’s decision to slow the pace of QT well before a decision has been reached. At the same time, Wall Street strategists are hopeful a plan is in place before the Fed’s RRP facility is nearly empty. Bank of America’s Cabana is skeptical the Fed will be able to continue QT for much more than a quarter after the facility is drained, with the risk that policymakers will have to slow or stop the Fed’s balance sheet reduction in the second quarter. That’s in line with Barclays Plc’s outlook, with the Fed ending QT in June or July. Deutsche Bank AG anal cysts expect the slowing of the balance sheet unwind to coincide with central bank rate cuts beginning in June. https://ca.finance.yahoo.com/news/forget-rates-now-worry-fed-181213522.html Link to comment Share on other sites More sharing options...
Recommended Posts