DrStool Posted November 15 Report Posted November 15 After a week of orgasmic buying, the stock market has just died, perhaps considering the deeper implications of what's in store under the next US Government epoch. But we are not concerned with the big picture here, only the more mundane aspects of day to day trading, and timing entries and exits. On that score, a 5 day cycle projection of 5900 on the hourly ES, 24 hour S&P futures, is virtually done, and hourly cycle oscillators are on the cusp of edging to the buy side. Note, as always, that "on the cusp," is not the same as "triggered." That's particularly important when a market is trying to find footing at a low point. It's from just such positions that one slip can result in falling down a stairwell or out a window for those who are critical of government policy. So, stay bullish my friends, unless your head be the one on the platter. We also note that on this chart, 5910, 5895 and 5870 are the critical spport levels. If one goes, the next one is up. But if 5870 goes, then abandon hope, all ye who enter here. Chances are we go back to where this latest wave of irrational exuberance began last week. I have been forecasting light issuance but instead, we get T-bills for Turkey Day. I reiterate from my regular reports, the Treasury is swimming in cash. It doesn't need this. Here’s Why Lower Treasury Supply Ahead is Bullish or Super Bullish The sharp uptrend in the 10 year yield (bond price collapse) hasn't been broken, and therefore continues to threaten contagion. If the 10 year pops 4.50, then the intermediate cycle projection would be immediately in view in the next day or two. Liquidity Measures Show Markets Stretched to the Limit For moron the markets see: Gold Melts 11/12/24 November 12, 2024 Swing Trade Screen Picks – More Buys and a Few Shorts- Link Corrected November 12, 2024 Here’s Why Lower Treasury Supply Ahead is Bullish or Super Bullish November 11, 2024 3-2-1 Liftoff November 10, 2024 Don’t Be Misled By October Tax Collections Collapse November 5, 2024 Primary Dealer Crisis Now, Crisis Later October 31, 2024 Liquidity Measures Show Markets Stretched to the Limit October 21, 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.
DrStool Posted November 15 Author Report Posted November 15 A 6 month cycle projection on the collapsing EUR/USD now points to 0.97. Ouch. 1.045 is major support. Breaking that would complete an even more enormous top that would have a conventional measured move target of around 0.965. On the other hand, daily cycle indicators are almost as extended as they were at the 2023 and 2022 bottoms. Gold Melts Gold has reached trend spport and is the most extended on daily cycle oscillators that it has been since the October 2023 low. That doesn't mean that the crash is finished, however. Gold Melts In our final cryptic comment of the day, BTC is holding its own after hitting its conventional measured move target of 92k based on its base breakout. But now there's an intermediate term cycle projection of, what else, 100k, of course. The soothsayers were right.
specie Posted November 15 Report Posted November 15 Now that ADM and SCMI have been found to be cookin the books and Gensler is gone Monday and 18 states are suing the SEC i wonder what other books have been cooked.....NVDA, AMZN, META, GOOGL, MSFT.......could be fun.
DrStool Posted November 15 Author Report Posted November 15 As you can see, this should be the bottom. Two spport line intersect. If it breaks, right back down to 5715.
DrStool Posted November 15 Author Report Posted November 15 If fitty breaks, remember, 61.8 isn't a real thing.
potatohead Posted November 15 Report Posted November 15 https://x.com/profitsplusid/status/1857513420339499047
DrStool Posted November 15 Author Report Posted November 15 I wonder what will happen when Trump fires all top military leaders and replaces them with his colonels. Bullish I guess.
DrStool Posted November 15 Author Report Posted November 15 This expanded top pattern has sort of held. Monday morning will tell if 5715 is on the docket or not.
DrStool Posted November 16 Author Report Posted November 16 Interesting charts. https://phys.org/news/2024-11-astronomers-galaxies-aligned-gravity-compound.html
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