Market Souffle 4/29/24

[DrStool]

I will start with the 2 hour bars of the ES 24 hour S&P futures, just to give you some perspective of what a beautiful bottom we've just come through. It has a conventional measured move target of 5250. 

But wait, is that a little rounded top forming since Friday's close? If they take this back below 5095, then it could be. Below that, the rally could be extinguished. The 2 hour bar based cycle oscillators are certainly extended, so I can't rule this out. They Walked the Line

On the other hand, looking at the 1 hour bars, I suspect that this could go into trending mode on the upside. If they clear 5116 with a little oomph, the sky's the limit. 

For moron the markets, see:   

• Swing Trade Screen Picks – Hidden Gems April 29, 2024
• They Walked the Line April 29, 2024
• Gold to Hibernate Till Winter April 24, 2024
• Watch Closely as Warning Signs Abound April 23, 2024
• Warning Signs Abound, But Ignore Them for Now April 16, 2024
• March Withholding Tax Collections Actually Stunk  April 5, 2024

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[Takachi-1]

Well I wouldn't call it hell bent on anything

[DrStool]

Fed's RRP slush fund growing right on schedule. Jumps back over $500 billion today. That's up from $327 billion on April 15. 

Watch Closely as Warning Signs Abound April 23, 2024

[potatohead]

I think my latest post just got me censored

 

[DrStool]

Ohmagawd. 

[MisFit Kid]

What did Interplanet Janet say???

[potatohead]

5 minutes ago, MisFit Kid said:

What did Interplanet Janet say???

Market lower as Treasury boosts April-June borrowing estimates to $243 billion from $202 billion - Q3 $847 billion, when the Fed likely slows QT

[MisFit Kid]

did not matter, all fruadexes green........tnx yield down......

 

now to find a very tall ladder to fix my mom's side-ing panel at the top of the arch.........

and lipstick for the neighbor's pig.......

[DrStool]

32 minutes ago, potatohead said:

Market lower as Treasury boosts April-June borrowing estimates to $243 billion from $202 billion - Q3 $847 billion, when the Fed likely slows QT

Isn't that special. And yet, you would think that the Treasury market would sell off on that nooze. But No-o-o-oo-o

[MisFit Kid]

 

[Takachi-1]

Isn't that the problem, maybe it did sell off and Treasury just ate it up so as to take away the correlation.