We anticipate further downside after the July 6th to 8th TIme period completes.
There is one caveat, should Q2 EOS be squeezed, we expect a downside into the
October to December TF of greater magnitude.
In taking the opposing view, there remains an unusual probability the SPY can swing
higher on a dramatic squeeze to relieve conditions that are extreme on...
The Tick Dip-In implies the 3588 Monthly Pivot will be broken to the downside.
SPY Gaps including the breakaway Gap remain @ 338, 285, and 230.
I anticipate these levels will be filled into October 2023.
The 225 Level will ultimately give way to far lower.
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Long Term, the Structure and...
note the broken down rising trendline resistance. Im expecting it to get tested and rejected hard with new lows mid July (13-14th), ideally we test 3500 and hold it.
The longer term target is 3209SPX now
Yday we opened right at our 3780.50-3776.75 level, failed over it and drove down to break Key Level of 3764.75-3760.50 from which I was expecting to go down and hit next Key Level lower but we failed to take out 3747.50-3744.75 and found a nice bid down there that took us all the way back to test Previous Day Low and T2 area over our 3809.50-3805.25 level where we...
Widest 2/10 Spread on Inversion in a long while.
FREDDY claims to have dumper $19B in MBS and $#B in USTS.
Edward Scissors Hands calls BS.
A Slasher Drama for the Ages.
Team Edward.
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The EU's Cow Fart Green Agenda and Reduction on Nitrogen use, both
by 30% - have farmers enraged - By Design, of...
Yday we had a balanced day between our supply above 3853-3847 and our buyers in the Gap area and Key Support at 3809.50-3805.25. We had a seller above 3840 all day and we could get past that 40 wall even with all the buying which tells us someone was selling filling orders into all the buying. Globex we broke the Key Support and saw that inventory leak out down to...
2Day's Macro Data:
THURSDAY, JUNE 30
8:30 am PCE inflation (monthly) May -- 0.2%
8:30 am Core PCE inflation (monthly) May 0.4% 0.3%
8:30 am PCE inflation (year-over-year) May -- 6.3%
8:30 am Core PCE inflation (year-over-year) May 4.8% 4.9%
8:30 am Real disposable income May -- 0.0%
8:30 am Real consumer spending May -- 0.7%
8:30 am Nominal personal...
Yday we opened above Previous Day high and that gave us a push over our Key Level of 3931.75-3927.25, we were able to reach next level up but failed to extend from it after a strong opening push which was our first warning sign. We we came back in under Key Level and got back under Previous Day high and our level of 3914.75-3910.75 was our downside confirm with a...
Yesterday's Sentiment Number - No Bueno, why would improve.
Cheesecake Factory Fun with Apes @ GME, DOA 007s back and prancing.
It's terminal.
Escape velocity for the "Recession" - Max Q, breaking up over the Atlantic.
Depression.
Suddenly Target is over-supplied, whilst the Babby Food SHortage and
Feminine Hygiene Products appear to be expanding.
Powell's...
An ascending triangle has pushed price up to this level where it has formed a sort of bullflag structure
Price is ready to break out to the upside above the dominant trend line
Weekly chart, very bullish
Yday we had a balanced RTH between Globex inventory over our Key Level of 3931.75-3927.25 and short position below our Key Level 3892.25-3887.25. Last night in Globex we tested Key Support and it held giving us rotation back up to 3931.75-3927.25 but this morning so far we have failed to get over it and accept, currently that inventory is coming out and we want to...
3846.50 to 3986.50 is the Implied Range.
The range has contracted into the Wedge.
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KISS - it's all about QT and Fed's Balance Sheet
into Friday.
Trade safe, Support - 3965/3985
Happy Hunting!
Friday morning RTH opened up and right away drove over the Globex inventory and a level to watch of 3839-3835.50, inventory was long and we got no correction that told us the strength for the day, we drove straight to next Key Level of 3892.25-3887.25 Where we found some resistance which was right at the Gap area where we expected to have supply, we consolidated...
Our lower Sell Ladders for SPY TLT ZN ZB and assorted SSOs are advancing nicely.
Fills are well out the curve from October to November 2023.
2%-3% is the Intraday Limit into Wednesday until issues unresolved begin to
assert their preference.
The FEd's updated Balance SHeet, TALF II Details, and Powell's updated bent will
all factor into Pre-Q2 EPS...
Before getting all giddy over this Counter-Trend - the Intermediate
Cycles for this Junk are far lower, dramatically so.
The Clowns calling bottoms and New All-Time Highs need a nailgun
to the head.
~90 Weeks further Weeks of the Larger downtrend are ahead.
Think about that for a moment, this is far more possible and
probable than most ever consider.
Will we...
Bravo TV, off again by over a Trillion, no mention
of the Junk Co sitting on Primaries @ $50 they cannot
unload.
FED MBS is $2.7 Trillion.
Commercial Banks hold $3.13 Trillion in MBS.
Get it together.
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NO BID is the current arrangement, 30 Year Mortgages
up from 3 to 6%.
The Fed's average Maturity is 7.1 Years,...
Must be a bottom.
The largest drawdown in history.
Yeah, bullish for certain.
Bonds losing their collective Sh_t.
Bullish.
Money Heaven for the 711 WeBull, CoinBase,
and Hoodies got plugged. Ma n' Pa - plugged.
Apes... defeated, WSW aka Wall Street Wins
is the new Reddit hashtag.
