DrStool Posted June 4 Report Share Posted June 4 Is making me wait. This market can't make up its mind. It's too early for a 3 or 5 day cycle low. More work to be done. Likely heading for the Dick Trickle Memorial Point at 5274 this evening. Levels to watch in the meantime, 5248 for spport or breakdown. 5291 for resistance or breakout. After Growth in the Spring Comes the Harvest LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS JUNE 4, 2024 The Treasury supply issue is still favorable for most of June. The Treasury has already resumed paying down T-bills thanks to a huge cash balance and the prospect of a big wave of estimated tax collections on June 15. Non-subscribers, click here for access. Subscribers, click here to download the report. I now estimate that paydowns should rebuild the Fed’s RRP facility to xxxxxxxxxxxxxxxx. That should be enough to last until xxxxxxxxxxxxxxxx. It doesn’t guarantee bullish markets until then, but it’s potential cash flow that will offset ongoing QT until it doesn’t. That should be xxxxxxxxxxxxxxxx at the latest. So enjoy the party while it lasts. Non-subscribers, click here for access. Meanwhile the stock market had looked historically overbought versus the level of bank deposits in recent weeks. But it has now blown through that record extreme into a supernova of bullishness. When that finally turns, it should mark the end of this bull run. But we’re not there yet, and there’s no reason to try and anticipate the turn by selling too early. The market will tell us. Meanwhile, I would let xxxxxxxxxxxxx xxxxxxxxxxx. Non-subscribers, click here for access. However, the buildup of divergences between liquidity indicators and the direction of asset prices means that when the market finally does give it up, we should believe it. It will be time to sell and sell short, not just wait out the next correction. Non-subscribers, click here for access. 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: After Growth in the Spring Comes the Harvest June 4, 2024 Swing Trade Screen Picks – Still Tilted Buy June 3, 2024 Under the Big Top June 3, 2024 Why Gold’s Consolidation Is Probably Not Benign May 30, 2024 June Swoon Called Off May 29, 2024 The Fed Doesn’t Matter Any More May 1, 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 June 4 Author Report Share Posted June 4 In my personal swing trade screens today there were 80 buys of which 13 triggered yesterday, but 5 of those were fixed income ETFs. Uh... no. Nahgahdah. There were 103 sells, but only 5 of those triggered. Link to comment Share on other sites More sharing options...
Jorma Posted June 4 Report Share Posted June 4 You don't see that too often. On my feed anyway. A gap on the ES 1 minute chart between 8:29 an 8:30. 4 points or so. Probably an error. Link to comment Share on other sites More sharing options...
fxfox Posted June 4 Report Share Posted June 4 Buttcoin shows relative strengh. Coinbase seems to start another upleg on the weekly. Link to comment Share on other sites More sharing options...
DrStool Posted June 4 Author Report Share Posted June 4 Triangle breakout. Upside. Link to comment Share on other sites More sharing options...
DrStool Posted June 4 Author Report Share Posted June 4 Pull back to break out. Hold here or else. Link to comment Share on other sites More sharing options...
DrStool Posted June 4 Author Report Share Posted June 4 5 day cycle projection 5325. Link to comment Share on other sites More sharing options...
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