DrStool Posted February 1 Report Share Posted February 1 Yesterday, I guessed at a downtrend channel on the ES S&P 500 24 hour fuguetures chart, based on a double secret probation formula that I use from time to time, about which if I told you I would have to shoot you. đđđ Anyway, it worked, and the market turned on a dime, dzackly where it was spose to. A triple spport point. Now the issue is, will it stop at the top of that selfsame channel, which comes in at 4875 at 7 AM NY time, and 4870 as of the opening half hour of regular trading. If it breaks that, then yesterday's selloff was just the usual false first move following the FOMC 3 ring circus, and off we go to ever higher levels. On the other hand, if this trendline sticks, bears could be in business. I doubt it, but will let the market tell us. Simple enough. Above 4875 at the open, bulls win. Otherwise, bears have a chance. I won't say they win. They never win. For reference, the position of the hourly oscillators looks similar to January 17. But The Danger Is that the Rally is Narrowly Based. For moron the markets, see: Swing Trade Screen Picks â Clearing Out the Shorts January 30, 2024 The Danger Is that the Rally is Narrowly Based January 29, 2024 Fed Balance Sheet Right Now Says Bears Should Get Ready to Rumble January 28, 2024 No Way Gold Has Forceful Breakout â 1/26/24 January 26, 2024 Primary Dealers Are Maxed Out Again January 24, 2024 Weekly Bank Data and Fed Balance Sheet Say the End is Nigh January 16, 2024 US Economy Didnât Crash in December? January 4, 2024 US Economy Crashed in December â Nope, See Update January 3, 2024 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 February 1 Author Report Share Posted February 1 They're workin it. Right here.   Link to comment Share on other sites More sharing options...
BreakOut Posted February 1 Report Share Posted February 1 I love the smell of resubstantiation in the morning. Link to comment Share on other sites More sharing options...
DrStool Posted February 1 Author Report Share Posted February 1 Son of a gun held. But the second time's the charm. We'll see. Link to comment Share on other sites More sharing options...
DrStool Posted February 1 Author Report Share Posted February 1 30 minutes ago, BreakOut said: I love the smell of resubstantiation in the morning. đđđ Link to comment Share on other sites More sharing options...
fxfox Posted February 1 Report Share Posted February 1 Again: It was not bearish what Poopwell said yesterday. You better pray that none of those regional banks goes bk. The FED would come to the rescue with full force. Link to comment Share on other sites More sharing options...
DrStool Posted February 1 Author Report Share Posted February 1 Sigh. Link to comment Share on other sites More sharing options...
DrStool Posted February 1 Author Report Share Posted February 1 2-3nday cycle projection 4900-05 for starters. Link to comment Share on other sites More sharing options...
MisFit Kid Posted February 1 Report Share Posted February 1 another day, another rebound miracle........ A sea of Green........and lower rates...... 0% is back in vogue, you can bet your life or a trip on a 737 Max...... >: on a more serious matter, How are those farmers doing in Europe? Link to comment Share on other sites More sharing options...
specie Posted February 1 Report Share Posted February 1 i thought this part of the game was for the markets to go back and test the spike high after the fed meeting before they collapse for real. Link to comment Share on other sites More sharing options...
specie Posted February 1 Report Share Posted February 1 i'm going to say that was close enough for hand grenades and government/bankster work  Link to comment Share on other sites More sharing options...
SiP Posted February 1 Report Share Posted February 1 For the past three days there is a flow of money flowing to polish equities (WIG indice) and PLN (FX) is getin stronger (EUR,USD sold). This is quite bullish. Link to comment Share on other sites More sharing options...
SiP Posted February 1 Report Share Posted February 1 Euro STOXX 50 (blue chips) ale also making new high - you have to go back like 30 years to find a higher prices. Link to comment Share on other sites More sharing options...
WTF Posted February 1 Report Share Posted February 1 The bag holders better be praying for some blowout earnings... expectations are through the roof... Link to comment Share on other sites More sharing options...
MisFit Kid Posted February 1 Report Share Posted February 1 'Nuff said........IJ at work.... Link to comment Share on other sites More sharing options...
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