DrStool Posted July 26, 2024 Report Posted July 26, 2024 Oh, my money! How can I lose thee? Let me count the ways. End Stage Hysteria Breaks The stock market seems to be growing increasingly random, with increasing frequency and amplitude. However, despite the wild fucktuations, the trend, for now, is still down. The angle of the dangle may change but barring an hourly close above 5493 today, the trend will remain down. In fact, the 5 day cycle has been in an up phase since early yesterday, and the market has yet to make a higher high amidst the wild swings. The immediate challenge as of 6 AM in New York, is to break a downtrend line at 5448. Failing that, another sharp plunge would be likely. If they do get through that, then the next move should be an attempt to get back to 5493. First the ES would need to clear trend resistance in the 5465-75 range. The 5 day cycle would ideally top out next Tuesday. If nothing happens on the upside before that, another mini crash leg could be dead ahead. For moron the markets, see: Gold Breakout Failure Signals Big Trouble July 25, 2024 End Stage Hysteria Breaks July 24, 2024 Swing Trade Screen Picks – Short-term Cancer Culture July 22, 2024 Politics and Markets Make Strange Bedfellows July 21, 2024 The Sky’s the Limit July 18, 2024 Picking Up Nickels in Front of a Steamroller 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 26, 2024 Author Report Posted July 26, 2024 Another $16 billion in T-bill issuance announced yesterday. T-bills cut both ways, but the $76 billion in coupons settling next week do not. Meanwhile the RRP slush fund saw withdrawals yesterday, on the issuance of $16 billion in T-bills. The drawdown actually exceeded the amount of bill issuance.The total outstanding remains rangebound however. The sit tight mentality seems to be entrenched. They nibbled on coupons with the extra $6 billion withdrawn from the RRP slush funda. All signs that the party really is over for stocks. End Stage Hysteria Breaks
DrStool Posted July 26, 2024 Author Report Posted July 26, 2024 33 minutes ago, potatohead said: When the margin man comes knocking..... Knock knock knockin on heaven's door.
DrStool Posted July 26, 2024 Author Report Posted July 26, 2024 So big surprise selloff wasn't a surprise at all. I just missed the margin call news. I used to be on the CME margin call notification list. Don't know what happened but I never got the memo. Boo. Joke's on me. 1
DrStool Posted July 26, 2024 Author Report Posted July 26, 2024 4 day basis cycle projection 5497. That's right shoppers, get your stocks now at a 1% discount in aisle 4.
DrStool Posted July 26, 2024 Author Report Posted July 26, 2024 on 2-3 day cycle basis I'm getting 5495-5500
DrStool Posted July 26, 2024 Author Report Posted July 26, 2024 The number they need to beat for a base breakout is 5492.4.
potatohead Posted July 26, 2024 Report Posted July 26, 2024 a close at the lows today would set up for a bad Monday...the pattern is big down on Thur, rally Friday morning then failure, Monday gap down that traps all the dip buyers from Friday.
DrStool Posted July 26, 2024 Author Report Posted July 26, 2024 The last two days are giving me motion sickness.
Jimbo Posted July 27, 2024 Report Posted July 27, 2024 THE DOMINANT OPERATIVE PRINCIPLE When fear replaces greed as the dominant operative principle.
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