DrStool Posted August 29 Report Posted August 29 This is ridiculous. There have been more false breakdowns lately than I can remember. The new technical rule is: When stocks break support, buy. Which is, of course, the opposite of the old rule. It's the bots and the AI, AI, AI. They're doing this. Everything is random, or made to look random. The 4 day cycle low came 4 hours later and 40 points lower than I thought. Good for a great shakeout, or shakedown, whatever the case may be. How are we supposed to trade this? Well, if we had drawn the correct channels, the drop did stop at the exact convergence point of two trendlines dating back to the early August low. So there's that. Now the up phase. Resistance is around 5619 in the opening hour in New Jerk. Spport is around 5588. Given that this is early in a 4-5 day cycle up phase, I'll take breakout for 5630, Alex. It's not much, but it's all I got right now. If they get through that, let's talk. Swing Trade Screen Picks – Short Inundation Meanwhile, in the Department of Does BTC Lead? The answer is sometimes. It led on the way down, but not on this bounce. When something works sometimes, but not others, it's not helpful. Seems to be how TA in general is going these days. But the search for eternal truths goes on. Maybe it's that all is random as opposing trading bots duke it out as they synthesize all available knowledge, and some that isn't available, to gain an edge against the other bots. Over on the fixed income side, the 10 year yield has reached perfect equilibrium at 3.83. No further trading is necessary as the Primary Dealers arrange for the market to swallow a gargantuan issue over the holiday weekend. Liquidity Still Supports the Rally, But with Warnings For the big picture and longer view, subscribe to Liquidity Trader! For moron the markets, see: Swing Trade Screen Picks – Short Inundation August 28, 2024 Liquidity Still Supports the Rally, But with Warnings August 27, 2024 The Market Still Blows August 26, 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
DrStool Posted August 29 Author Report Posted August 29 Gold’s Most Important Point 8/29/24 Lee Adler 3 - Gold Trader August 29, 2024 Gold could top out here. The 13-week cycle projection has been reached in the expected time frame. xxxx is projected resistance. Short-term cycles are due for down phases lasting a week or two. If the price drops under xxxx in this period, then this could be a bigger top. If it holds above that, a subsequent breakout would suggest that the 10-12 month cycle will remain in trending mode with the long-term trend strengthening, leading to xxxx xxxx xxxx. 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
MisFit Kid Posted August 29 Report Posted August 29 Since this happened over night in the after life, was there really a trade for most people......(buy the dip, etc.) >: kinda odd that the NVDA and the Naz, move back up, but Dollar General, not so much......although it is trying, too. Quote
DrStool Posted August 29 Author Report Posted August 29 GDP something something. Or was it the reality of the $136 billion leaving home this weekend. Liquidity Still Supports the Rally, But with Warnings Quote
DrStool Posted August 29 Author Report Posted August 29 We are at the moment. The Market Still Blows Quote
potatohead Posted August 29 Report Posted August 29 You want to know what chaos and anarchy will look like. The day all the phones and computers convert their spellcheck to Lee’s version of word phonology, called Adlerisms. Many will be confused by the new spelling and sounds of once popular words and phrases. AI trading models will become confused and erratic and begin to trade on a fractional moving average basis. Common technical analysis will become worthless as the bots use computerized hieroglyphics to mask trades from other bots using encrypted computerized hieroglyphics. Quantum computers will flush bulls and bears stop orders in nano seconds. Collecting an endless stream of wealth and income to support its Skynet operation. Machines will take over the world and issue commands in a modern encrypted Adlerism dialect. Humans will have no choice but to go long NVDA at 100x sales. Quote
MisFit Kid Posted August 29 Report Posted August 29 1 hour ago, MisFit Kid said: Since this happened over night in the after life, was there really a trade for most people......(buy the dip, etc.) >: kinda odd that the NVDA and the Naz, move back up, but Dollar General, not so much......although it is trying, too. I guess Dollar General is going to have to go "AI" for the AI's (American Idiots) DG Last $90.06 Change -$33.78 (-27.28%) Quote
DrStool Posted August 29 Author Report Posted August 29 For perspective, the 2 hour bars. Me so bullish. BTW, 2-3 day cycle projection now 5660. Swing Trade Screen Picks – Short Inundation For the big picture and longer view, subscribe to Liquidity Trader! For moron the markets, see: Gold’s Most Important Point August 29, 2024 Swing Trade Screen Picks – Short Inundation August 28, 2024 Liquidity Still Supports the Rally, But with Warnings August 27, 2024 The Market Still Blows August 26, 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
DrStool Posted August 29 Author Report Posted August 29 35 minutes ago, potatohead said: You want to know what chaos and anarchy will look like. The day all the phones and computers convert their spellcheck to Lee’s version of word phonology, called Adlerisms. Many will be confused by the new spelling and sounds of once popular words and phrases. AI trading models will become confused and erratic and begin to trade on a fractional moving average basis. Common technical analysis will become worthless as the bots use computerized hieroglyphics to mask trades from other bots using encrypted computerized hieroglyphics. Quantum computers will flush bulls and bears stop orders in nano seconds. Collecting an endless stream of wealth and income to support its Skynet operation. Machines will take over the world and issue commands in a modern encrypted Adlerism dialect. Humans will have no choice but to go long NVDA at 100x sales. 🤣🤣🤣 Quote
MisFit Kid Posted August 29 Report Posted August 29 And the Computer "AI" just finished the Champions League draw for Europe.......⚽ Due to the "New and Improved Format", think $$$$$, they could not do the usual Ping Pong Ball draw....... The new format is so complicated that it would have taken over three hours and require 1,296 balls. (ESPN) that my friends is progress.........not to mention $$$$ again...... Quote
MisFit Kid Posted August 29 Report Posted August 29 OK.....Who did that? EUFA? Five Below (FIVE) Quote
DrStool Posted August 29 Author Report Posted August 29 Geez I just finished dinner and I'm walking home and I open my phone and I see this! WTF happened? Quote
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