DrStool Posted August 23 Report Share Posted August 23 Yesterday's selloff was a ho hum affair. And as of 6:30 AM ET, they've retraced half of it. That puts us at an infartion point. 5612 and 5620 are resistance areas. If they hold, I think we get at least a test of yes turd day's low around 5562. If those R levels are cleared, then here we go again. Next stop, da moon. I'd give the edge to the bools here. Yesterday's clothes looked like a 4 day cycle variant low. With all the right skew that's been going on the past couple of weeks, that would put the next high in the middle of next week. Meanwhile, yesterday the Treasury announced the schedule for end of month coupon issuance. As I warned in this report, it is gargantuan, at $136 billion. To remind you, T-bills are instantly and easily converted into cash money Coupons, not so much. This upcoming issuance ain't billish, at least for a few days around the end of the month. But they will have issued $118 billion in T-bill insta cash in the second half of August. And paydowns are coming in September. So don't get sucked in on an end of month selloff. Here's how the hourly looks on the 10 year yield. Preparing for liftoff. Maybe one more pullback on the massive issuance of T-bill instacash ahead. 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 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 Link to comment Share on other sites More sharing options...
DrStool Posted August 23 Author Report Share Posted August 23 Well looky thar. Quote Link to comment Share on other sites More sharing options...
DrStool Posted August 23 Author Report Share Posted August 23 WTF? Quote Link to comment Share on other sites More sharing options...
potatohead Posted August 23 Report Share Posted August 23 More like.... What the "Hole" Quote Link to comment Share on other sites More sharing options...
potatohead Posted August 23 Report Share Posted August 23 FED'S GOOLSBEE: THE SIZE OF GIVEN FED RATE CUT ISN'T WHAT MATTERS MOST, THE PATH IS KEY. I wonder if we should get a woman's perspective on this comment. Quote Link to comment Share on other sites More sharing options...
DrStool Posted August 23 Author Report Share Posted August 23 Neither Borrowers nor Goolsbee. Quote Link to comment Share on other sites More sharing options...
DrStool Posted August 23 Author Report Share Posted August 23 Quote Link to comment Share on other sites More sharing options...
SiP Posted August 23 Report Share Posted August 23 I saw a photo in FT with liquidity chart that point out the printer will start and we will reach 7000 on spx. Quote Link to comment Share on other sites More sharing options...
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