DrStool Posted April 11 Report Share Posted April 11 The market has developed a penchant for air pockets within this recent trading range. They've been in both directions. One of these days an air pocket will open up outside the range, and there was be no coming back from it. But which way. That's the question. Is today the day? Not likely. We're due for a 5 day cycle low, and the 5 day cycle projection of 5230 has been reached. However, not like doesn't mean impossible. Crashes happen when bottom setups fail. Looking at the 2 hour bars of the ES 24 hour futures for today, there are numerous possibilities evident. One is that the low might be tested here at the NY open, hold and reverse into a rocket launch. Another is a break of the lows. But then what? 7 points? 20 points? 30 points? That last support around 5195 is the biggie. The tape must be watched today. If you are short, only fire when you see the whites of their eyes. Swing Trade Screen Picks – Well Hedged List Gives Steady Performance in the Wild Market For moron the markets, see: Back to the Gold Old Days 4/9/24 April 9, 2024 Swing Trade Screen Picks – Well Hedged List Gives Steady Performance in the Wild Market April 9, 2024 Chef Says Choose One from Column A Or One from Column B April 8, 2024 March Withholding Tax Collections Actually Stunk April 5, 2024 Banking Data Says This Is Last Hurrah for Stocks April 3, 2024 The End Is Not Nigh March 26, 2024 Markets Create Money, Money Talks, Markets Listen Etc. March 12, 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. Link to comment Share on other sites More sharing options...
DrStool Posted April 11 Author Report Share Posted April 11 Update on 5 day cycle projection. On second look, it looks 5210ish anyone. Link to comment Share on other sites More sharing options...
DrStool Posted April 11 Author Report Share Posted April 11 There you go. Rocket engines fired at the double bottom. Chef Says Choose One from Column A Or One from Column BApril 8, 2024 Link to comment Share on other sites More sharing options...
DrStool Posted April 11 Author Report Share Posted April 11 Itty bitty base breakout measures to 5190. Link to comment Share on other sites More sharing options...
DrStool Posted April 11 Author Report Share Posted April 11 Market reminds me of Texas Chainsaw Massacre Link to comment Share on other sites More sharing options...
Takachi-1 Posted April 11 Report Share Posted April 11 thought I could scalp a couple bucks off the Nat Gas dip but someone big must be short and wouldn't let it happen Link to comment Share on other sites More sharing options...
Jimbo Posted April 11 Report Share Posted April 11 WHEN WILL FINANCIAL MARKETS Realize that the primary task of the FED is to save the US Government from the consequences of its fiscal profligacy and the danger of hard default by printing money. Price stability is a secondary task. If the two tasks conflict....as they currently do..... Then task one wins at the expense to task two. And the wealth of lenders gets transferred to the borrowers. Link to comment Share on other sites More sharing options...
DrStool Posted April 11 Author Report Share Posted April 11 There's the air pocket again. Link to comment Share on other sites More sharing options...
DrStool Posted April 11 Author Report Share Posted April 11 There was also a trendline convergence, and so far, no go. Link to comment Share on other sites More sharing options...
DrStool Posted April 11 Author Report Share Posted April 11 But there's a 2-3 day cycle projection of 5235, and if they get through 5220 the implied measured move would be 5305. The hourly indicators are bullish. Link to comment Share on other sites More sharing options...
DrStool Posted April 11 Author Report Share Posted April 11 Looks like the dealers are backing the fruit train back into the station after shaking the low hanging fruits from the trees. Link to comment Share on other sites More sharing options...
specie Posted April 11 Report Share Posted April 11 interesting action in the life insurance companies Link to comment Share on other sites More sharing options...
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