DrStool Posted March 8 Report Posted March 8 The ES 24 hour S&P futures projects to a 5 day cycle high of 5185, ideally due this afternoon. But a look at the hourly chart suggests that if they get that far, they're going much, much higher. The conventional measured move target of yet another high base breakout, this time through 5170, would be 5285. I don't think they'd get there today, but what do I know. How Stocks Can Forestall the Inevitable If by some miracle, they don't clear 5170, don't even think about a reversal pattern unless they break down from 5150 for starters. Even a drop to 5130 wouldn't do major damage. It would just be a pullback before the next rally. For moron the markets, see: Gold Sets Up for Major Breakout March 6, 2024 The Magic of Rising Stock Prices Driving Liquidity, Driving Prices March 4, 2024 How Stocks Can Forestall the Inevitable March 4, 2024 Tax Collections Took Off in a Stunning Reversal in February March 3, 2024 Swing Trade Screen Picks – Read My List, No New Shorts March 1, 2024 We Don’t Need No Stinkin’ Fed – We Make Money from Nothing February 26, 2024 Gold Holds for Hold February 24, 2024 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.
DrStool Posted March 8 Author Report Posted March 8 Swing Trade Screen Picks – What to Do With Profitable Week Behind LEE ADLER 2 - TECHNICAL TRADER MARCH 8, 2024 Swing trade screens generated 32 charts which met all buy side criteria for visual review, and 28 which met all sell criteria for the week ended Thursday. Non-subscribers click here for access. Technical Trader subscribers click here to download the complete report. List performance improved from the week before. The average gain was 13.1% on an average holding period of 21 calendar days. This includes picks closed out over the course of the week and those still open. It compared with an average gain of 7.4% on an average holding period of 25 calendar days, the previous week. Non-subscribers click here for access. The list’s current performance has reached a level where it has maxed out in the past, suggesting some drawdown ahead. But there’s only one outright sell signal. I’m adding a tight stop to that chart. See table below for all particulars. Non-subscribers click here for access. This morning, I reviewed all of the charts produced by the screens. Here’s what I came up with for the week ahead. Non-subscribers click here for access. Table of picks and performance in the subscriber report. Non-subscribers click here for access. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days!
MisFit Kid Posted March 8 Report Posted March 8 well, did the bears enjoy their 1 minute for the day (Pre market)...... End of story......
DrStool Posted March 8 Author Report Posted March 8 The January jobs number was revised down big. Sooprize Sooprize. Whatever the BLS is doing every month bears no semblance to reality. I've given up trying to reconcile their bullshit with the withholding tax data. It's an exercise in futility. Next month they'll have to revise up. I reported this a week ago but no longer made any attempt to relate it to the jobs report for Feb. Tax Collections Took Off in a Stunning Reversal in February
DrStool Posted March 8 Author Report Posted March 8 The bond market reflects. The Magic of Rising Stock Prices Driving Liquidity, Driving Prices
DrStool Posted March 8 Author Report Posted March 8 Gold faces multiple trend resistance lines. Gold Sets Up for Major Breakout - March 6, 2024 Done!
DrStool Posted March 8 Author Report Posted March 8 This thing is going vertical even on a log scale chart. Won't end well. When they go vertical, they never end well. That said, even the short term cycle projection is 73,500. 9 month cycle projection 75,000. Seems like a done deal. The Magic of Rising Stock Prices Driving Liquidity, Driving Prices March 4, 2024
DrStool Posted March 8 Author Report Posted March 8 5 hours ago, DrStool said: The ES 24 hour S&P futures projects to a 5 day cycle high of 5185, ideally due this afternoon Got there early. 5 day cycle projection now 5205. How Stocks Can Forestall the Inevitable March 4, 2024
Jimbo Posted March 8 Report Posted March 8 A BANK OF GREY RHINOS Banks face a small herd of grey rhinos 1/ The treasury and MBS bond losses....currently stabilised by the FED moderated yeild curve. 2/ The CRE losses ....not moderated by anyone and gradually getting worse. 3/ The deposit flight to fund the defecit.....FHLB is currently sort of looking after this.....sort of. What do you call a herd of grey rhino's..... My suggestion is a "bank of grey rhinos".
DrStool Posted March 8 Author Report Posted March 8 8 hours ago, DrStool said: Even a drop to 5130 wouldn't do major damage. It would just be a pullback before the next rally.
potatohead Posted March 8 Report Posted March 8 5 minutes ago, DrStool said: Sure likes oscillating around 5150 🤪
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