DrStool Posted October 11 Report Posted October 11 But is it a road to nowhere. The ES 24 hour S&P futures hourly chart has formed a triangle since yesterday. It's the epitome of indecision, but when the break out, the move is usually explosive, if not always long lived. Hourly cycle oscillators are pointing down from a pattern that's normally a sign of impending doom. If they take out 5765, the next step down is just 5750, then below that 5740 and 5730. The question is, if this breaks, do they step down in order or do they slice through like a knife through butter? On the other hand, if they clear 5797, this high base pattern that they're coming out of has a conventional measured move target of 5860. The TA minimally favors the downside here, but what do I know, I'm on a bus in the middle of the Croatian hinterland. Swing Trade Screen Picks – Lots of Sell Signals Again Meanwhile, the catastrophic move in the 10 year Treasury yield is poised to get worse. So much for that Fed rate cut, huh? We’re Now Week to Week for this Bull For moron the markets see: Gold Says, Not So Fast! October 10, 2024 We’re Now Week to Week for this Bull October 9, 2024 Swing Trade Screen Picks – Lots of Sell Signals Again October 8, 2024 Moderating Bullish Outlook October 7, 2024 Get Your Red Hots Here October 3, 2024 Market Can’t Live By Repo Alone September 25, 2024 Macro Money Blows the Roof Off September 17, 2024 Primary Dealer Clown Show Danger Pales in Comparison to Hedgie Daredevils September 11, 2024 Here’s Hard Evidence that the Slowing Economy Narrative is False September 8, 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 October 11 Author Report Posted October 11 Coupon supply is light at the mid month auction but look at that flood of T-bills! Remember, T-bills are instantly convertible into cash. Get Your Red Hots Here Quote
DrStool Posted October 11 Author Report Posted October 11 My friends, the good news is, Milton wasn't the Big One. The bad news is, Milton wasn't the Big One. Quote
SiP Posted October 11 Report Posted October 11 Banks presented good results. all beat the EPS/rev forecasts. all is green. Quote
DrStool Posted October 11 Author Report Posted October 11 Dull but effective. Have a great workend! Quote
SiP Posted October 12 Report Posted October 12 CBB Investment-grade spreads (to Treasuries) ended the week at 81 bps, one basis point above the low from June 30, 2021. More to the point, it is also within a basis point of the low all the way back to March 15, 2005, a period notable for being at the heart of mortgage finance Bubble excess. Financial conditions seemingly couldn’t have been easier, with investment-grade corporate spreads in early 2005 the narrowest since the summer of 1998 exuberance (pre-Russia/LTCM collapses). Quote
SiP Posted October 12 Report Posted October 12 https://www.reuters.com/markets/rates-bonds/us-credit-spreads-narrow-new-lows-economy-looks-up-2024-10-11/ Quote
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