Major Infarction Point 11/4/24

DrStool · November 4

Another triangle pattern has formed on the hourly chart of the 24 hour ES, S&P futures. The numbers to watch for signals are 5745 on the upside, and 5725 on the downside. Triangle breakouts are usually explosive, but there's little reason to expect them to have extended follow through. I would expect little more than a flash bang either way today. Major Inflection Point

1733de

Is gold starting to top out? Old Gold Uptrend Could Get Smoked

1734rq

The EUR/USD is beginning the expected cycle upturn.

1734qe

With bond yields hitting projections and the debt ceiling looming is it time for the bond market to catch a break? Primary Dealer Crisis Now, Crisis Later

1734st

What about Twin Peaks on Planet Crypton?

For moron the markets see:

Major Inflection Point November 4, 2024
Old Gold Uptrend Could Get Smoked November 4, 2024
Primary Dealer Crisis Now, Crisis Later October 31, 2024
Swing Trade Screen Picks – Picking a Few Nickels With Steamroller Still Coming October 29, 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

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DrStool · November 4

Major Inflection Point

Lee Adler 2 - Technical Trader November 4, 2024

As Americans make the decision of what kind of government they want, the stock market also faces a major decision this week. Indications are mixed in all time frames. We await a clear signal. Here’s what we’re looking at as deciders. Non subscribers click here to access.

Technical Trader subscribers click here to download the complete report.

Cycles – Short-term cycle lows are due xxxxxxx xxxxxxx and projections have xxxxxxxx xxxxxx. But the up phases in 6-month and 10-12 month cycles are in question. Any weakness this week would xxxxxxxxx xxxxxxxxx xxxxxxxx . By extension, if those cycles xxxxxx xxxxx xxxxxxx , that would suggest xxxxx xxxxxx xxxxxx in longer cycles as well. An extension of the rally this week could xxxxxx xxxxx xxx.

Cycle Screening Measures – The aggregate indicator set up a potentially higher short-term low on Friday. If the market rallies Monday, then this would tend to support a xxxxx xxxxxxxx xxxxxxxxx. But the intermediate pattern has turned xxxxxxxxxx, with xxxxxxx highs and xxxxxxx lows. Likewise, the 6-month cycle numbers are solidly on the xxxx side. Barring a xxxxxxxx xxxxx, these numbers suggest an xxxxxxxxxx xxxxxxxx. That, in turn, would suggest impending xxxxxx xxxxxxxx in longer cycles.

Third Rail – The market setup up a new short-term downtrend. A down day on Monday would confirm that trend. Conversely, a weekly close above xxxx would break it and keep the uptrend intact. That would keep the measured move target of xxxx still in view.

Long-Term Weekly Chart – A weekly close below xxxx would suggest a possible major top. Conversely, holding above that would allow for the likelihood of xxxx around year end or January.

Monthly Chart – 10/28/24 The market is approaching its upper channel bound at xxxx, now, rising to around xxxx in November and xxxx in December.

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