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Next Stop 5260 5/29/24

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That's the current 5 day cycle projection on the ES 24 hour S&P futures. It's also a spport level, a hair above last week's low. Meanwhile, hourly cycle oscillators are Dover Sole, down to the level where they bottomed last week. That doesn't guarantee a bottom. If the continue lower here, it would suggest that you should don your crash helmets. 


Fed balance sheet and banking data, along with Treasury supply data had previously shown the prospect for some stock market weakness around the enormous expected end of May Treasury coupon settlement. I warned about it in our last update of this data on May 13, which was headlined, “Why Sell in May and Go Away.”  Non-subscribers, click here for access. 

Subscribers, click here to download the report.

Last week, the Treasury confirmed the amount of the settlement that I had estimated. Over the past few days, we’ve begun to see the effects of that in stocks and bonds. But how bad will it be? This report answers that question, and shows you why.

KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality! 

For moron the markets, see:    

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In my swing trade screens of roughly 1400 NYSE and Nadsaq stocks meeting price and volume criteria from yesterday, 42 stocks met preliminary criteria for buy and 46 for sell.  However none of the sells triggered yesterday. 5 of the buys triggered. 

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5 day cycle projection 5260. Hourly oscillators edging closer to buy signal, but not there yet. Can't rule out a crash until the turn is complete. 

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