DrStool Posted April 17 Report Share Posted April 17 Yesterday, no one correctly identified our mystery guest, so we will have new contestants attempt it today, on What's My Line, with John Daly, Dorothy Kilgallen (corrected, not kilogallon), Bennet Cerf, Arlene Francis, and Steve Allen. New gold update coming later this morning but first, Back to the Gold Old Days 4/9/24. Also posted a warning yesterday, Incoming! Little bears, get under your desks and cover your heads with your arms. Warning Signs Abound, But Ignore Them for Now As for the here and now, the bottom is in, he will see you now. By the way, in France when it's time to see the doctor, he just pops out and comes for you. And they are always on time. Like the trains. OK, not the trains all the time. The ES, 24 hour S&P futures suggest at least a 5 day cycle low, but the up phase hasn't gotten off the ground and we don't know if it will. Looks like a nice base for a rally, but they might decide to just chop and slop and then break down. Key level is 5080 on the top of the range to get something going all the way to the next resistance level of 5093 woopdedoo. Next one above that would be 5110. Looking down, there's a spport line at 5033. Break that and they could plunge all the way to 5028 where there's some old spport. And then all the way to 5000 where lower channel descending spport comes in around 2:30 turn time. No More Downside The hourly cycle oscillators are bullish but only approaching zero from below. A little push up today would get those into positive territory which would suggest acceleration. On the other hand, stall and rollover from this level, and shorting might be in order. For moron the markets, see: Warning Signs Abound, But Ignore Them for Now April 16, 2024 Swing Trade Screen Picks – List Shrinks With Good Profits April 15, 2024 No More Downside April 15, 2024 Back to the Gold Old Days 4/9/24 April 9, 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 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...
Jorma Posted April 17 Report Share Posted April 17 Will today's contestant sign in please. Quote Link to comment Share on other sites More sharing options...
DrStool Posted April 17 Author Report Share Posted April 17 Joe! Quote Link to comment Share on other sites More sharing options...
DrStool Posted April 17 Author Report Share Posted April 17 What do earnings have to do with the stock market? Absolutely nothing! What do interest rates have to do with the stock market? Absolutely nothing! What does the economy have to do with the stock market? Absolutely nothing! What does the stock market have to do with the stock market? Absolutely nothing! Quote Link to comment Share on other sites More sharing options...
DrStool Posted April 17 Author Report Share Posted April 17 Thing about Joe. He was often wrong, but never in doubt. And truthfully, I learned a lot from him. I still use OBV as one input for my stock screens and picks. Quote Link to comment Share on other sites More sharing options...
specie Posted April 17 Report Share Posted April 17 2 hours ago, DrStool said: Thing about Joe. He was often wrong, but never in doubt. And truthfully, I learned a lot from him. I still use OBV as one input for my stock screens and picks. Interesting, that's the only indicator i use, along with trendlines. Quote Link to comment Share on other sites More sharing options...
DrStool Posted April 17 Author Report Share Posted April 17 I was out for a few hours. This was not supposed to happen. Can I get a rerun? Quote Link to comment Share on other sites More sharing options...
DrStool Posted April 17 Author Report Share Posted April 17 6 hours ago, DrStool said: Looking down, there's a spport line at 5033. Break that and they could plunge all the way to 5028 where there's some old spport. And then all the way to 5000 where lower channel descending spport comes in around 2:30 turn time. Covered that ass! Quote Link to comment Share on other sites More sharing options...
DrStool Posted April 17 Author Report Share Posted April 17 No pundit ever needs to be wrong in this business. You just have to know how to make predictions. If you know how to do that, then you can be right 100% of the time. Quote Link to comment Share on other sites More sharing options...
DrStool Posted April 17 Author Report Share Posted April 17 5 day cycle projection 5020, done. Quote Link to comment Share on other sites More sharing options...
DrStool Posted April 17 Author Report Share Posted April 17 Quote Link to comment Share on other sites More sharing options...
Jimbo Posted April 18 Report Share Posted April 18 FOOLED BY THE DOT PLOT (Alternative title: How to play the players 101) So the much anticipated slam dunk sure thing long bond rally fades into the monetary distance as print boy jay layers on the synthetic QT. It was always a mirage with a 2 trillion defecit. And once again the FED has played the players. Reminds me so much of the sure thing slam dunk treasury short play of mid 23...riding the treasuries issue flood...until they realised.....the rrp was their doom. Notice how the Eccles Ecclesiarch layers on the synthetic QE (the dot plot) and QT (we must fight inflation first) in alternating layers. Using it to play the players. Quote Link to comment Share on other sites More sharing options...
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