DrStool Posted June 27 Report Posted June 27 Today is ideally the 5 day cycle high on the ES. But alas, the waves regressing toward ever smaller amplitudes as the market triangulates itself toward infinite flatness. The ES would need to end today above 5474 for an upside breakout, or 5455 for a downside breakout. Until one of those things happens, nothing will happen. The rise off yesterday's low has given the hourly indicators a slightly bullish tone. But without a breakout, it's meaningless. And even if 5474 is cleared, there's more resistance immediately overhead in the 5480-90 range. It doesn't argue for a big upside move today, even with the last T-bill paydown, totaling $15 billion, settling today. That's because massive coupon issuance is coming tomorrow and next week, and that should weigh heavily on things. Even a downside breakout from the triangle would not argue for a big move. Spport is around 5440-45. They players will play hold that line there. For moron the markets, see: For Primary Dealers Easy Street is No More June 26, 2024 When Gold Breaks Out June 25, 2024 Swing Trade Screen Picks – Stick It June 24, 2024 Weak Trend Status Quo June 23, 2024 Here Cometh the Grim Repo Man June 20, 2024 May Tax Collections Were Super Bullish June 6, 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.
DrStool Posted June 27 Author Report Posted June 27 Triangle breakout topside. But 5 day cycle projection only 5485 so far.
DrStool Posted June 27 Author Report Posted June 27 If they clear 5490, that would create a base breakout with a measurement of 5535.
DrStool Posted June 27 Author Report Posted June 27 7 minutes ago, potatohead said: I am shocked, shocked that our former President would have anything to do with someone who committed fraud. 1
DrStool Posted June 27 Author Report Posted June 27 Return to the scene of the crime. If 5475 holds, this thing will blast off this afternoon. If it doesn't hold... Oh well...
DrStool Posted June 27 Author Report Posted June 27 In my swing trade stock screens the sell side had another big edge today. Been that that for a week. It snot working.
DrStool Posted June 27 Author Report Posted June 27 $5 billion T-bill paydown scheduled for July 5. That's a little surprising since they have net issuance on July 2. Still too much cash in the till.
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