DrStool Posted January 22 Report Share Posted January 22 That's right, today's 5 day cycle projection on the ES 24 hour futures chart is 4880. That's also the conventional measured move implication of Friday's high base breakout. Hard to believe, Harry. The See No Evil Market marches on. There's a rising trendline from 4855 to 4862 when NY trading opens, that would need to be broken to end this phase of the meltup. As of the NY close, that line will be at 4880. That's the meltup channel. Don't get too excited if that breaks. There are multiple trendlines and cycle lines coming up below that which should stop any pullbacks initially. The first of those is running nearly parallel to the channel line, about 20 points below. So there's not much chance of a big drop from here in the short run. It’s 5050 For Sure For moron the markets, see: It’s 5050 For Sure January 22, 2024 Gold Hits Melting Point January 18, 2024 Swing Trade Screen Picks – Ready for Blast Off or Dive Dive! January 17, 2024 Weekly Bank Data and Fed Balance Sheet Say the End is Nigh January 16, 2024 US Economy Didn’t Crash in December? January 4, 2024 US Economy Crashed in December – Nope, See Update January 3, 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...
SiP Posted January 22 Report Share Posted January 22 I remeber the time when a guy ten years ago was sayin spx at 5000 and everyone was laughing. Most bears at that time were promoting revisiting the 666 bottom, publishing thousands of 1929 and 1987 crash VS current year charts Link to comment Share on other sites More sharing options...
SiP Posted January 22 Report Share Posted January 22 I remember a time when jim Roger(?) who lives in Hong Kong promoted China as a investment destination, then one famous investor said to short China about 7 years ago. Link to comment Share on other sites More sharing options...
SiP Posted January 22 Report Share Posted January 22 Japan gets flow out of china Link to comment Share on other sites More sharing options...
fxfox Posted January 22 Report Share Posted January 22 10 minutes ago, SiP said: I remember a time when jim Roger(?) who lives in Hong Kong promoted China as a investment destination, then one famous investor said to short China about 7 years ago. Jim Rogers. He is a paid agent of the CCP. Link to comment Share on other sites More sharing options...
DrStool Posted January 22 Author Report Share Posted January 22 I remember guys who were right. I remember guys who were wrong. But I can't remember who they were. Link to comment Share on other sites More sharing options...
SiP Posted January 22 Report Share Posted January 22 Some of the most interesting stories for me is the rise of crypto. We all know that a some/lot (?) of money flow to crypto from fraudulent activities like drugs. Ive dozes of stories that also money flowing out of Russia/China etc is going to crypto in some respect due to many reasons (no US supervision, no ways to froze the assets etc). The Q is - how much liquidity is going to crypto from this direction. I would bet that pretty big chunk of it. If so, then crypto will rise to to rising political barriers and wars between countries. Even if this will be forbidden in West, still the crypto should rise as a place of storage for Russians. Its always smaller than a gold and you dont need physical vault, its decentrailised etc Link to comment Share on other sites More sharing options...
SiP Posted January 22 Report Share Posted January 22 Jim Chanos advised to short China, many years ago. like almost ages. thats the problem always with timing. Link to comment Share on other sites More sharing options...
SiP Posted January 22 Report Share Posted January 22 but you could be right in the long term, and still lost money like Chanos https://www.cnbc.com/2023/11/17/jim-chanos-the-short-seller-who-called-enrons-fall-is-converting-hedge-fund-to-a-family-office.html John Maynard Keynes noted, "Markets can stay irrational longer than you can stay solvent." Link to comment Share on other sites More sharing options...
DrStool Posted January 22 Author Report Share Posted January 22 Fundamentals are no basis for market timing. Liquidity is context. Technical analysis is timing. Markets change. Market drivers change. Recognizing when drivers are changing, and the implications of the changes, are the keys to the longer run. And the road is full of twists, turns, and random earthquakes and tsunamis. Succeeding is hard. Skill helps, but so does good luck. Link to comment Share on other sites More sharing options...
DrStool Posted January 22 Author Report Share Posted January 22 Plausible that the 5 day cycle projection is only 4860ish. Link to comment Share on other sites More sharing options...
specie Posted January 22 Report Share Posted January 22 Crypto has DARPA written all over it. Last gasp effort to attract fiat that might have gone towards specie. We're getting near the end. Link to comment Share on other sites More sharing options...
DrStool Posted January 22 Author Report Share Posted January 22 Is it a bear market yet? Link to comment Share on other sites More sharing options...
SiP Posted January 22 Report Share Posted January 22 21 minutes ago, specie said: Crypto has DARPA written all over it. What do you mean by that? DARPA is american agency (Defense Advanced Research Projects Agency). So was is a special project made by them? I would not agree - several names pop-up all over the word and a lot of them fraudsters like FTX, Terra etc. Link to comment Share on other sites More sharing options...
SiP Posted January 22 Report Share Posted January 22 49 minutes ago, DrStool said: Fundamentals are no basis for market timing. Liquidity is context. Technical analysis is timing. Markets change. Market drivers change. Recognizing when drivers are changing, and the implications of the changes, are the keys to the longer run. The road is full of twists, turns, and random earthquakes and tsunamis. I think I will print this quote by Lee Adler Link to comment Share on other sites More sharing options...
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