DrStool Posted April 29 Report Share Posted April 29 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 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...
Takachi-1 Posted April 29 Report Share Posted April 29 Well I wouldn't call it hell bent on anything Link to comment Share on other sites More sharing options...
DrStool Posted April 29 Author Report Share Posted April 29 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 Link to comment Share on other sites More sharing options...
potatohead Posted April 29 Report Share Posted April 29 I think my latest post just got me censored Link to comment Share on other sites More sharing options...
DrStool Posted April 29 Author Report Share Posted April 29 Ohmagawd. Link to comment Share on other sites More sharing options...
MisFit Kid Posted April 29 Report Share Posted April 29 What did Interplanet Janet say??? Link to comment Share on other sites More sharing options...
potatohead Posted April 29 Report Share Posted April 29 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 Link to comment Share on other sites More sharing options...
MisFit Kid Posted April 29 Report Share Posted April 29 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....... Link to comment Share on other sites More sharing options...
DrStool Posted April 29 Author Report Share Posted April 29 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 Link to comment Share on other sites More sharing options...
MisFit Kid Posted April 29 Report Share Posted April 29 Link to comment Share on other sites More sharing options...
Takachi-1 Posted April 29 Report Share Posted April 29 Isn't that the problem, maybe it did sell off and Treasury just ate it up so as to take away the correlation. Link to comment Share on other sites More sharing options...
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