DrStool Posted July 22 Report Posted July 22 Well, yeah. Politics and Markets Make Strange Bedfellows LEE ADLER 2 - TECHNICAL TRADER JULY 21, 2024 Joe will go, but the market won’t go with him. Political events, no matter how much of a watershed they represent, do to cause trend change. Reactions to those events are very short-term, and the market usually returns to the cyclical patterns that were developing before the event, within a few days. That will happen here. Non subscribers click here to access. Technical Trader subscribers click here to download the complete report. Meanwhile, cycle indicators say that the market won’t go much lower here and that a higher high is still in the offing down the road. Maybe not as high as before, but higher. Here’s when and where to expect both the next top, and a longer term top. Non subscribers click here to access. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! And here's our usual look at the hourly 24 hour ES chart. So far, it seems to want to support the analysis I posted last night in Liquidity Trader. First it faces resistance this morning around 5550 nd 5560. I suspect that trading will be messy and skittish, but if those levels are cleared, we might be singing Up Up and Away. For moron the markets, see: Politics and Markets Make Strange Bedfellows July 21, 2024 The Sky’s the Limit July 18, 2024 Gold Takes the High Road July 17, 2024 Swing Trade Screen Picks – Holding the Averages Versus Picking Swing Trades July 14, 2024 Higher for Longer July 14, 2024 Picking Up Nickels in Front of a Steamroller July 9, 2024 Gold Raises the Bar July 9, 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 July 22 Author Report Posted July 22 First attempt to break the downtrend is shot down.
DrStool Posted July 22 Author Report Posted July 22 How it ended. Maybe the 10 year yield just made a higher low. Look what's coming. Big coupon supply. T-bills also big supply, but that cuts both ways because T-bills are de facto money via repo. The Sky’s the Limit Update coming soon to a theater near you.
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