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jimkane
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"I've fallen, and I can't get up!" (Silly U.S. TV commercial from way back.)
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jimkane
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Just an aside, the market, and the ES, are closed tomorrow, and the futures close today as usual, but don't reopen until Sunday. So, this is it, and anyone holding is holding over a long weekend. I can't imagine a 'Friday into the close' type bias today...
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jimkane
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Just to elaborate, the ES closes at 16:15, reopens from 16:30-17:00, then usually reopens at again 18:00. The 18:00 will be on Sunday, not Thursday this time.
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jimkane
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This thing is all over the place, again. My take on this is that when the machines aren't all aligned to buy (their usual mode), or occasionally to sell, they battle, and that leads to what we see on the screen right now. Yo-yo 1-min chart swings. I think this will clear to the upside for a bit more, but I am only very slightly seeing more odds of that, maybe 55/45. I'm committed to just letting it do its nonsense.
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jimkane
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I am hoping like crazy that we get some selling into the close, or just throughout the day. There is a great opportunity for this to crater today. I hope it takes it.
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jimkane
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People don't talk about this as much as they did before, but recall Matt Taibbi's great article about 'The Vampire Squid'. That term was all over, mentioned every day in many sources. You rarely hear it now. I'd like to say not much has changed since the article so the term is still every bit as valid, but I think it has. It is much, much worse, as far as Goldman Sucks, or as some say Government Sachs.
https://www.armstrongeconomics.com/international-news/north_america/is-goldman-sachs-rigging-u-s-treasury-auctions/
https://www.armstrongeconomics.com/international-news/north_america/is-goldman-sachs-rigging-u-s-treasury-auctions/
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jimkane
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The ES just shook the 1-min range out down exactly on my timing factor, so now a sweep up? I'd prefer just down now. Hard.
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jimkane
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Looks like the sweep up is coming. Will it make its move up, too, or just sweep?
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jimkane
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I'm not sure the ES is going anywhere, but we've seen this many times, then it clears to the upside. There is a nice area from say 21.25-22.75, then just layers from 24-28. So, it should struggle through there if it's not real strong. If it even makes an attempt. It looks like it is gearing up to take a shot.