Overnight Selloff Reaches Trend- 12/17/24

[DrStool]

The ES 24 hour S&P futures failed to clear big trendline yesterday. It fell to a downtrend channel line this morning where the decline halted. But that line is dropping sharply.  And as yet there are no buy signals on the hourly chart. So I would expect to see a lower low this morning. Traders will be cautious in advance of tomorrow's FOMCircus.

If the morning low of 6054 is  broken, look for 6048, and then a test of the Monday low of 6035. Weekly Market Insights: Is the Market Waiting to Get Fed?

In the bond market, Treasuries are suffering a vicious selloff. That equates with surging yields. The 10 year is headed for 4.60. Ponzi Much? Understanding Treasury Debt and Market Fragility  Meanwhile, I am working on a liquidity update. I expect to post that later this morning, 

In precious metals, gold is now at critical trend support. Not good if it breaks 2639. But it would be a nice setup if it clears 2679. Gold Chart Cycles Show Mixed Signals: Trading Range Continues as Long-Term Uptrend Remains Intact

 

For moron the markets see:

• Macro Liquidity Report: Key Market Trends & Insights for 2025 December 17, 2024
• Weekly Market Insights: Is the Market Waiting to Get Fed? December 16, 2024
• Technical Trader Weekly Chart Picks: Top Swing Trade Opportunities This Week December 15, 2024
• Gold Chart Cycles Show Mixed Signals: Trading Range Continues as Long-Term Uptrend Remains Intact December 10, 2024
• Stock Market Outlook: Extreme Valuations, Liquidity Growth, and the Road to the Next Bear Market December 8, 2024
• Giant Gain in November Withholding Tax Collections December 4, 2024
• Ponzi Much? Understanding Treasury Debt and Market Fragility November 20, 2024

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[DrStool]

Macro Liquidity Report: Key Market Trends & Insights for 2025

Lee Adler 1 - Liquidity Trader- Money Trends December 17, 2024

 

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[specie]

wonder what will replace reverser repo now

[DrStool]

We won't have to worry about that for many months for reasons explained in the report. 

Then SRF, but very limited. 

[Jorma]

4 hours ago, specie said:

wonder what will replace reverse repo now

QE

 

[potatohead]

5 hours ago, specie said:

wonder what will replace reverser repo now

BITCOIN