DrStool Posted August 1, 2024 Report Posted August 1, 2024 I will not answer that question here, but I am working on a report to answer that question. It's part of a roughly monthly series that I do on the subject. The last report is here. Meanwhile, I want to show you the 4 hour bars on the ES, 24 hour S&P futures. That looks like a breakout from a for mee dahb (francais for formidable) intermediate term bottom. It faces resistance at 5560, and 5600. Topping on the Cake For day trading purposes here we track the hourly view. The base breakout measures to 5580. The 5 day cycle projection is 5590-5600. The 2-3 day cycle projection looks 5610-20. In terms of time, 3 days from the last peak is this morning, in the pre market. 5 days would be Tuesday. So the top of this move would ideally come between now and then. You could say that the market will fluctuate and will top out now and then. And you'd be right,. Just like CNBSeen and the Wall Street Urinal. 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
DrStool Posted August 1, 2024 Author Report Posted August 1, 2024 Stars Suddenly Align for Gold Lee Adler 3 - Gold Trader August 1, 2024 Gold is in a 9-12 month cycle down phase that isn’t going down, which is a bullish sign for the longer term. It has re-emerged from the base from which it broke out in mid July. If this holds, it confirms the implied target of xxxx. The 13-week cycle has shifted back into an up phase with a projection of xxxx ideally due no sooner than xxxxxx xx. Short-term cycles have also turned up, with highs due no sooner than xxx xxxxxx. I have added new mining picks to swing. Non-subscribers click here for access. Subscribers, click here to download the report. Try Lee Adler’s Gold Trader risk free for 90 days! Quote
DrStool Posted August 1, 2024 Author Report Posted August 1, 2024 Interesting. No breakout (yet) and a nagative divergence. Testing the uptrend channel now. Quote
SiP Posted August 1, 2024 Report Posted August 1, 2024 Fomc - up After fomc - down After the after - regular show Quote
Takachi-1 Posted August 1, 2024 Report Posted August 1, 2024 Foolish me, all along I understood the share markets were designed to provided liquidity and funding to American companies in pursuit of economic enterprise. Turns out it operates to provide Uncle Sugar with obscene amounts of money to do unknown things with by extracting money from everyone else.. Quote
MisFit Kid Posted August 1, 2024 Report Posted August 1, 2024 1 hour ago, Takachi-1 said: Foolish me, all along I understood the share markets were designed to provided liquidity and funding to American companies in pursuit of economic enterprise. Turns out it operates to provide Uncle Sugar with obscene amounts of money to do unknown things with by extracting money from everyone else.. Sorta like the "Bond" "Market"......... Quote
DrStool Posted August 1, 2024 Author Report Posted August 1, 2024 Wow, this thing has been all over the lot. Quote
DrStool Posted August 1, 2024 Author Report Posted August 1, 2024 1 hour ago, Takachi-1 said: Foolish me, all along I understood the share markets were designed to provided liquidity and funding to American companies in pursuit of economic enterprise. Turns out it operates to provide Uncle Sugar with obscene amounts of money to do unknown things with by extracting money from everyone else.. Actually, Uncle provides the cash, either in the form of Fed QE, or Govt issued money called T-bills. The beneficiaries are Uncle's cronies who use the "money" to fund complex carry trades, from which they ultimately profit. Quote
SiP Posted August 1, 2024 Report Posted August 1, 2024 2 hours ago, Takachi-1 said: Foolish me, all along I understood the share markets were designed to provided liquidity and funding to American companies in pursuit of economic enterprise. Turns out it operates to provide Uncle Sugar with obscene amounts of money to do unknown things with by extracting money from everyone else.. correct + funding war machine Quote
DrStool Posted August 1, 2024 Author Report Posted August 1, 2024 God forbid that war machine ends up in Trump's hands. Goodbye Ukraine, Goodbye Poland. All of the former Soviet satellites and "republics" would be back under Russian control within 3-5 years. Some will go without a fight, and some won't. It will be bloody. Like it or not, the US war machine has served a vaild purpose. Not saying all the time, but without it, the free world as we know it, imperfect as it is, would not exist. And yes, a lot of unworthy, rotten people have been enriched. That's all I have to say about that. Quote
SiP Posted August 1, 2024 Report Posted August 1, 2024 amazon sucks - -5% Intel sucks - 10% in AH, but -20% in total doday Apple? Quote
SiP Posted August 1, 2024 Report Posted August 1, 2024 Moderna down 21% I guess we need ne covid. Quote
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