DrStool Posted June 10 Report Share Posted June 10 It's a yawn not only because it's boring, but because it's another bullish setup. Bears need ES below 5339 at the NY open and/or below 5325 to have any semblance of any shot of any chance, of getting even a short term reversal out of this deadly dull market. Never short a dull market, right? Indeed, if they end up above 5376 today, the bottom at a top pattern will be validated, and the upside momentum would probably accelerate. Here it is on 2 hour bars going back 6 weeks. I have circled the Friendly Brontosaurus Pattern. Of course, on Friday we also had the mighty Topo Gigio pattern. The question is which is stronger. This is the type of analysis that differentiates the truly great technical anal cysts from the quacks and cranks. For moron the markets, see: Swing Trade Screen Picks – Had the Plot, But Not the Right Actors June 10, 2024 The Top Must Wait June 9, 2024 Something Ugly Could This Way Come for Gold June 7, 2024 May Tax Collections Were Super Bullish June 6, 2024 After Growth in the Spring Comes the Harvest June 4, 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 10 Author Report Share Posted June 10 TIny base breakout measures to 5365. Link to comment Share on other sites More sharing options...
DrStool Posted June 10 Author Report Share Posted June 10 This market is turtling upward. Link to comment Share on other sites More sharing options...
DrStool Posted June 10 Author Report Share Posted June 10 Turtle back in. Link to comment Share on other sites More sharing options...
DrStool Posted June 10 Author Report Share Posted June 10 Turtles do tend to go back and forth a lot. The idea that the tortoise beats the hare is not well supported in the literature. Replication studies are lacking. Link to comment Share on other sites More sharing options...
DrStool Posted June 10 Author Report Share Posted June 10 Banged their head right at the top of the two downtrend channels as drawn. Link to comment Share on other sites More sharing options...
DrStool Posted June 10 Author Report Share Posted June 10 The RRP slush fund buildup is happening as projected. May Tax Collections Were Super Bullish Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 10 Report Share Posted June 10 30 minutes ago, DrStool said: The RRP slush fund buildup is happening as projected. May Tax Collections Were Super Bullish Tax collections - Slush Fund "So Happy Together"............ Link to comment Share on other sites More sharing options...
DrStool Posted June 10 Author Report Share Posted June 10 I'm long out the wazoo. hard to be objective. I don't want a big reversal here. Too many positions to bail on all at once. I hate the sell everything button. 😂😂😂 Link to comment Share on other sites More sharing options...
DrStool Posted June 10 Author Report Share Posted June 10 Actually only 55% long, 15% short, 30% caishe. For me, that's very very long. Link to comment Share on other sites More sharing options...
DrStool Posted June 10 Author Report Share Posted June 10 Lightened up just a bit toward the end. Ciao et bonne soiree! Link to comment Share on other sites More sharing options...
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