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I Warned You This Was Coming 1/19/24

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This is the T-bill issuance schedule just ahead. After a couple months of quietude, this:

01/25/2024 Bills $268,000 $236,977 $31,023
01/23/2024 Bills $228,000 $210,001 $17,999

Weekly Bank Data and Fed Balance Sheet Say the End is Nigh

And that's not all. 

01/31/2024 Coupons $221,000 $179,256 $41,744

And now for our daily look at what to expect for today. First, with $90 billion in new supply coming over the next 12 days, there's this. Next stop on the 10 year 4.28-.30. Stay ahead of the news! Weekly Bank Data and Fed Balance Sheet Say the End is Nigh

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And for our usual look at the hourly ES, 24 hour S&P futures, last night I reported that the 5 day cycle projection was 4800. Now it is 4820. We have a breakout in progress from a base with a conventional measured move implication of at least 4850, and maybe 4880.

This assumes that the premarket rally now underway doesn't suffer a cataclysmic reversal in early NY trading. To negate, the ES would need to drop below 4787 today. I wouldn't rule it out because hourly cycle oscillators have reached the level of the last market peak. Stock Market Is Having Irving Fisher Moment

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For moron the markets, see:

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7 hours ago, DrStool said:

We have a breakout in progress from a base with a conventional measured move implication of at least 4850, and maybe 4880.

Well. there's that. 

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48 minutes ago, MisFit Kid said:

Is this the Trump won IOWA, we better do something rally?

>: a 100 point ripper on the SPX ain't what she used 2 be,

Officer Barbrady..."move along, nothing to see here"......

No. On the news front it's the passage of a 7 week funding bill. Everyone was worried the hard core in the House was really going to do it this time and shur er down. So silly.  No, little Mike Johnson did was all other congressional GOP leaders have done for years  after they get an offer they can't refuse. They fold.  Now who delivers these offers they can't refuse I'll leave you to guess.

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