DrStool Posted March 27 Report Share Posted March 27 We will test that maxim in the 7-8 AM hour in New York as the ES 24 hour S&P futures run into a trend resistance convergence at 5233. If they clear that little obstacle, there will be immediate running room to 5250. If they don't clear it, they won't have far to go to hit the first spport level, which is around 5218-20. If they break that, then they should pull it back to test yesterday's low around 5205. So once again, it doesn't look like a very exciting day again. Only if the market breaks out of that range is a real move likely. The 5 day cycle up phase hasn't gotten off the ground and a high is due in that cycle today or tomorrow. Mid day Thursday to Friday's close and perhaps Monday present a better chance of a breakdown from this range. That assumes no upside breakout today. The End Is Not Nigh For moron the markets, see: The End Is Not Nigh March 26, 2024 Don’t Stop Never Disbelieving March 24, 2024 Swing Trade Screen Picks – Stocks Barnburner Set for Conflagration March 23, 2024 Gold Enters Hibernation Season March 22, 2024 Primary Dealers Raise Red Flag March 20, 2024 Swing Trade Screen Picks – Adding Stops to Take Profits March 17, 2024 A Top is In, But Which One Is It March 17, 2024 Gold Due for Pause that Refreshes March 15, 2024 Markets Create Money, Money Talks, Markets Listen Etc. March 12, 2024 The Magic of Rising Stock Prices Driving Liquidity, Driving Prices March 4, 2024 Tax Collections Took Off in a Stunning Reversal in February March 3, 2024 We Don’t Need No Stinkin’ Fed – We Make Money from Nothing February 26, 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. Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 27 Author Report Share Posted March 27 Resistance cleared. Needs to hold above 5233 this hour. Don’t Stop Never Disbelieving Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 27 Author Report Share Posted March 27 Let the paydowns begin. But only after a massive coupon settlement. The End Is Not Nigh Date Security Type Total Offering Total Publicly Held Maturing Net New Cash or (Pay Down) 04/02/2024 Bills $215,000 $240,961 $(25,961) 04/01/2024 Coupons $217,000 $92,224 $124,776 03/28/2024 Bills $213,000 $216,999 $(3,999) 03/28/2024 Coupons $16,000 $0 $16,000 Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 27 Author Report Share Posted March 27 The bond market is completely unfazed as it looks forward to April and May cash influx. The End Is Not Nigh Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 27 Author Report Share Posted March 27 Never short a dull market does not always work. Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 27 Author Report Share Posted March 27 IOW Never say never short a dull market. Because everyone never knows. That is all. Quote Link to comment Share on other sites More sharing options...
potatohead Posted March 27 Report Share Posted March 27 57 minutes ago, DrStool said: IOW Never say never short a dull market. Because everyone never knows. That is all. never short a short that isn't dull..... Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 27 Author Report Share Posted March 27 Just came back from dinner. WTF wuzzat? Quote Link to comment Share on other sites More sharing options...
SiP Posted March 27 Report Share Posted March 27 Boom Quote Link to comment Share on other sites More sharing options...
SiP Posted March 27 Report Share Posted March 27 Best series of monthly close for dji since 2020 and spx since 2018. Dji is about to hit 40.000! Quote Link to comment Share on other sites More sharing options...
DrStool Posted March 27 Author Report Share Posted March 27 I went into the day nearly half short. However, I kept getting cover signals and by the end I was only 10% short. But I made zip on the day. Hopefully the longs will make good Tamara. Quote Link to comment Share on other sites More sharing options...
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