DrStool Posted July 31 Report Posted July 31 So I open my charts today and see this and say WTF! Topping on the Cake On the hourly ES, 24 hour S&P futures, the downtrend is broken, but there's no handle breakout yet. For that, it probably needs to clear 5500. The conventional measured move target would then be 5580. The 5 day cycle up phase is under way, but they've been lasting less than 2 days. in recent cycles. So maybe a peak late today or early Turdsday. Or maybe not. Topping on the Cake Today is FOMC Circus day. Enjoy. Today, I'm enjoying a semi vacation day in one of my favorite cities in Europe, Krakow. I'll be back online later this afternoon with an update. I'm also behind on Liquidity Trader Publication. It's coming. This week's report will focus on Primary Dealer Positions and Financing. You won't want to miss it! For moron the markets, see: Topping on the CakeJuly 29, 2024 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 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. Quote
BreakOut Posted July 31 Report Posted July 31 Wonder what the returns on this would have been over the past 15 years: BreakOut Fund: Buy 100% S&P 500 ETF at close Tuesday before Fed Wednesday. Sell half at close Fed Wednesday, other half at close Friday (Fed Resubstantiation Day) Repeat at close on Tuesday before the next Fed Wednesday on the calendar. Of course, buying and holding almost anything 15 years ago might have beat this. Quote
DrStool Posted July 31 Author Report Posted July 31 That was a higher high, but not quite a base breakout. Need to get well clear of 5502. Topping on the Cake Quote
MisFit Kid Posted July 31 Report Posted July 31 Looks like crime still pays...... F the FED already.......... >: it is amazing what they control ...... >:: amazing that most people will never hear or see it.... >::: amazing what passes as "news"...... Quote
DrStool Posted July 31 Author Report Posted July 31 5 day cycle projection 5585-5600. It's nuts. Quote
potatohead Posted July 31 Report Posted July 31 1 minute ago, DrStool said: Pal is manippleating the mock it. That is a strong New England accent you have there.... must be from Bawston Quote
MisFit Kid Posted July 31 Report Posted July 31 30 minutes ago, potatohead said: That is a strong New England accent you have there.... must be from Bawston I thought he was from Philly.....🙂 >: Philadelphia....(Johnny Horton song?) Quote
SiP Posted July 31 Report Posted July 31 fed - cuts on the table in september, 75bps now (market pricing) Iran will bomb again Isreal. Oil, gold raging. cash down the toilet. Quote
MisFit Kid Posted July 31 Report Posted July 31 16 minutes ago, SiP said: fed - cuts on the table in september, 75bps now (market pricing) Iran will bomb again Isreal. Oil, gold raging. cash down the toilet. I am looking to fit my toilet with AI .......How does that work out in the long run? >: So if my bills only go up 10-15%, there is no "inflation".... yet no one calls them out...crime pays, it seems too many are in on it........ >:: anyone at the olympics? Quote
SiP Posted July 31 Report Posted July 31 of course the crime pays. Its a crooked system. You cant change it. You may just game it. cant win them, join them. Quote
SiP Posted July 31 Report Posted July 31 meta Qualcomm etc beat top and bottomline tomorrow amazon, apple, Intel This all looks like a big week for bulls and maybe suckers rally till 6000 spx Quote
SiP Posted August 1 Report Posted August 1 BOJ raises short-term policy rate to 0.25% from 0-0.1% BOJ to halve monthly bond buying to Y3 trln in Q1 2026 Broadening wage hikes, rising services prices behind move Governor Ueda does not rule out another rate hike this year BOJ will keep raising rates if inflation on track - Ueda Quote
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