Another Day of Snorting 8/20/24

[DrStool]

Although they are very close to the edge here with less than an hour to go before NY opens. Pretty easy guesswork here. An up opening and off we go into the wild blue yonder. Down and we get a little pullback, but it won't amount to much with so many spport levels and trendlines coming up. Worst case would be 5570 if they start down. Upside targets would be around 5633 and 5660.  Swing Trade Screen Picks – We Caught the Turn

Even my favorite excess liquidity measure is looking bullish again. 

And money is flooding into the 10 year Treasury this morning. Liquidity Now Hinges on Mood

 

For moron the markets, see: 

• Swing Trade Screen Picks – We Caught the Turn August 20, 2024
• Gold Breakout Persists August 19, 2024
• Nothing But Air August 19, 2024
• Liquidity Now Hinges on Mood August 19, 2024
• Bits and Pieces- Why What Was Bearish is Now Bullish August 15, 2024
• Tax Collections Were Worse than the Jobs Report But… August 5, 2024

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[DrStool]

Look at dem. Dey panickin. Dey all yellin Sell Sell! 

[specie]

44 minutes ago, DrStool said:

Look at dem. Dey panickin. Dey all yellin Sell Sell! 

I don't know nuttin 4 sur but i dink day write

[DrStool]

I think this is going much higher, but here we're only talking the day to day stuff. Very short term. So what if there's another 5-10%. 

[TurdButter]

"...going much higher."

So that 6 month cycle hitting the wall early has become irrelevant?

[specie]

3 hours ago, DrStool said:

I think this is going much higher, but here we're only talking the day to day stuff. Very short term. So what if there's another 5-10%. 

I tink ES and NQ have broken they're uptrend lines on the 60 min chart.

 

I tinq SPY and QQQ have broken there uptrend lines on the 60 min chart as well.

 

seems like it's da bears ball right now, but who nose i refuse to watch any sports anymore or any tv for that matter.