DrStool Posted October 29 Report Share Posted October 29 Wait. They keep throwing shit against the barn door, and nothing is sticking. This morning we have another triangle break on the ES 24 hour S&P futures. This time it's to the downside, and so far, there's no follow through. I hold to the idea that nothing is likely to happen until the derelection is settled. That will take a while, apparently. For today, we start within a well defined 2 day downtrend channel. Upper line runs from 5829 to 5824 during regular trading hours. Lower line 5807 to 5802. No sign yet of a breakout, or which way. Market Broke for Second Wind In the WOW department, more breathtaking carnage in the Treasury market. Still looking at an intermediate term cycle projection of 4.60 on the 10 year yield. Worried about contagion? Hell yeah. Liquidity Measures Show Markets Stretched to the Limit Gold, already in a breathtaking uptrend is angling for acceleration. Gold Approaches Its Long Term Target Cryptonians are celebrating a breakout with a short term cycle projection of 78-79k. That would result in a conventional measured move target of the base breakout, to 90k. Meanwhile the euro is still looking for a short term bottom against the dollar, but the indicator setup suggests the potential for a EUR/USD crash if the EUR doesn't clear 1.0850 USD in the next few days. . For moron the markets see: Swing Trade Screen Picks – Picking a Few Nickels With Steamroller Still Coming October 29, 2024 Market Broke for Second Wind October 27, 2024 Gold Approaches Its Long Term Target October 26, 2024 Liquidity Measures Show Markets Stretched to the Limit October 21, 2024 Get Your Red Hots Here October 3, 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 October 29 Author Report Share Posted October 29 Swing Trade Screen Picks – Picking a Few Nickels With Steamroller Still Coming Lee Adler 2 - Technical Trader October 29, 2024 Current screens yielded 464 short-term buys and 459 short-term sells. Rangebound whipsaws continue to dominate the action. After applying long term trend structure and intermediate term filters, there were 70 buys and 29 sells. Non-subscribers click here for access. Technical Trader subscribers click here to download the complete report. Last week I wrote that, “I’m not interested in buys at this late stage of the cycle, especially in view of the warning signs in the liquidity measures.” So much for that. After reviewing the charts I decided to try and pick up a few nickels in front of the steamroller. I added 5 charts on the buy side. I liked one short. Non-subscribers click here for access. 9 picks were closed last week and I’ll remove 1 more as of Tuesday’s opening price. I am letting the rest of the existing picks ride, with added or adjusted stops in some cases. I assume risk management through small position sizes and diversification. Your approach may differ. Non-subscribers click here for access. As of October 28 closing prices, including open picks and those closed last week, the list had an average gain of 5.2% down from +5.3% the previous week, on an average holding period of 30 calendar days, up from an average of 25 days. Picks closed in September had an average gain of 1.6% on an average holding period of 20 calendar days. Picks closed so far in October had an average gain of +2 % on an average holding period of 27 calendar days. Non-subscribers click here for access. To view the list and charts of open picks, Non-subscribers click here for access. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! Quote Link to comment Share on other sites More sharing options...
DrStool Posted October 29 Author Report Share Posted October 29 That's an unequivocally bullish pattern. Quote Link to comment Share on other sites More sharing options...
SiP Posted October 29 Report Share Posted October 29 Great numbers from Google. Quote Link to comment Share on other sites More sharing options...
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