Patiently waiting for the Equity Complex to resolve after 6 long days of consolidation
within an expanding range felt far more lengthy than it was.
Yesterday we warned of the Overthrows in Down Trend Channels for Price as the Daily
Channel had tested Support at its Lower Channel.
We are using the important levels of 4393/96 and 4441 as the potential Overhead Objectives
for this retracement, from there we will observe the reaction.
The ES was entered and Bought to Open (BTO) @ 8 X 4356, 6/8 were closed in BPT @ 4380
as when Price begins retracing, Globex is used for the majority of the movement.
We will see if it follows on during RTH, typically in this type of retracement, it is straight-up
during Globex, while RTH moves within the Hourly extensions.
We finally have our larger retracement underway.
The Futures Gap remains open above, the all-important 4441 level should be reached
ahead of October 21st. As mentioned previously, this date is showing up on many Charts
convergence Objectives.
We will be using 1/8th to 1/4 size for this retracement and trading BTOs at the appropriate times.
THe 200SMAs and lower remain open with Lower Lows in trade. We do not Trust this Counter-Trend,
and why the reduced size.
There are far too many vectors for further downside.
China's Real Estate Issues are simply beginning, DEBT remains an enormous Albatross, FX is in Flux,
and Yields are far from completing their moves. Taiwan... an issue, Semis... an Issue, EPS Warnings...
an Issue... There are far too many to list.
The Debt Edifice is simply filling the Gaps we indicated would be filled. A bit too early to be popping
corks on the likes of TLT, ZN, ZB, and Debt Structures, they are doing what they always do, back and
fill over and over.
Complexity will develop in this retracement as it is an all or nothing move, treat it accordingly.
We remain in the belief, lower lows are ahead for 4/4 before new ATHs for 5/5 and will adjust
as necessary. Nothing has changed fundamentally.
Bulls will suggest "Seasonality" favors a turn here.
IMHO, it is early to be making Bold prognostications.
-HK
within an expanding range felt far more lengthy than it was.
Yesterday we warned of the Overthrows in Down Trend Channels for Price as the Daily
Channel had tested Support at its Lower Channel.
We are using the important levels of 4393/96 and 4441 as the potential Overhead Objectives
for this retracement, from there we will observe the reaction.
The ES was entered and Bought to Open (BTO) @ 8 X 4356, 6/8 were closed in BPT @ 4380
as when Price begins retracing, Globex is used for the majority of the movement.
We will see if it follows on during RTH, typically in this type of retracement, it is straight-up
during Globex, while RTH moves within the Hourly extensions.
We finally have our larger retracement underway.
The Futures Gap remains open above, the all-important 4441 level should be reached
ahead of October 21st. As mentioned previously, this date is showing up on many Charts
convergence Objectives.
We will be using 1/8th to 1/4 size for this retracement and trading BTOs at the appropriate times.
THe 200SMAs and lower remain open with Lower Lows in trade. We do not Trust this Counter-Trend,
and why the reduced size.
There are far too many vectors for further downside.
China's Real Estate Issues are simply beginning, DEBT remains an enormous Albatross, FX is in Flux,
and Yields are far from completing their moves. Taiwan... an issue, Semis... an Issue, EPS Warnings...
an Issue... There are far too many to list.
The Debt Edifice is simply filling the Gaps we indicated would be filled. A bit too early to be popping
corks on the likes of TLT, ZN, ZB, and Debt Structures, they are doing what they always do, back and
fill over and over.
Complexity will develop in this retracement as it is an all or nothing move, treat it accordingly.
We remain in the belief, lower lows are ahead for 4/4 before new ATHs for 5/5 and will adjust
as necessary. Nothing has changed fundamentally.
Bulls will suggest "Seasonality" favors a turn here.
IMHO, it is early to be making Bold prognostications.
-HK
Comment:
ES remains in a Daily SELL Setup.
Comment:
4190 remains wide open
Comment:
Breaking 4280 will Confirm
Comment:
EPS 2Day
Taiwan Semiconductor (TSM) 1.07 / 1.04 14.74B / 14.84B 527.46B
UnitedHealth (UNH) 4.52 / 4.41 72.34B / 71.3B 380.22B
Bank of America (BAC) 0.85 / 0.7075 22.77B / 21.65B 363.02B
Wells Fargo&Co (WFC) 1.17 / 0.9953 18.83B / 18.22B 191.56B
Morgan Stanley (MS) -- / 1.69 -- / 13.93B 179.85B
Citigroup (C) -- / 1.74 -- / 17.06B 142.4B
Rio Tinto ADR (RIO) -- / -- -- / -- 111.23B
U.S. Bancorp (USB) 1.3 / 1.15 5.89B / 5.76B 91.12B
Walgreens Boots (WBA) 1.17 / 1.02 34.26B / 33.01B 40.88B
Just Eat Takeaway (JETJ) -- / -- -- / -- 11.52B
ASX ADR (ASXFY) -- / -- -- / -- 11.22B
Alcoa (AA) -- / 1.75 -- / 2.93B 9.04B
Duck Creek (DCT) -- / 0.0155 -- / 69.1M 6B
Fortescue Metals (FSUMF) -- / 0.00 -- / -- 5.99B
ABG Sundal Collier (0IZM) -- / -- -- / -- 4.22B
Commercial Metals (CMC) 1.26 / 1.19 2.03B / 1.93B 3.92B
Suedzucker (0G7B) -- / 0.22 -- / 1.67B 2.77B
Hays (HAYS) -- / -- -- / -- 2.73B
Dunelm (DNLM) -- / -- 388.8M / -- 2.55B
Domino’s Pizza Inc (DPZ) -- / 3.11 -- / 1.03B 2.4B
Ashmore (ASHM) -- / -- -- / -- 2.13B
Domino’s Pizza (DOM) -- / -- 375.8M / -- 1.75B
Fagron (0HNZ) -- / -- -- / -- 1.13B
Rathbone Brothers (RAT) -- / -- -- / -- 1.11B
TomTom ADR (TMOAY) -- / -0.0404 -- / 159.5M 945.34M
TomTom (0MKS) -- / -0.0684 -- / 134.96M 814.14M
Etalon Group (ETLNGq) -- / -- -- / -- 609.67M
PAM (PTSI) -- / 0.675 -- / 135.8M 514.28M
Sabre Insurance (SBRE) -- / -- -- / -- 485.66M
Theratechnologies (TH) -0.12 / -0.07 -- / 24.77M 420.61M
Theratechnologies (THTX) -0.1 / -0.07 17.85M / 24.77M 338.42M
Del Taco Restaurants (TACO) -- / 0.0975 -- / 124.86M 326.08M
GoldMining (GOLD) -- / -0.01 -- / 0.00 240.85M
Sareum (SAR) -- / -- -- / -- 217.09M
GoldMining (GLDG) -- / -0.008 -- / 0.00 193.8M
LifeMD (LFMD) -- / -0.62 -- / 26.39M 171.36M
Meritage Hospitality (MHGU) -- / -- -- / -- 152.43M
Wealth Minerals (WML) -- / -- -- / -- 151.12M
Hepion Pharmaceuticals (HEPA) -- / -0.19 -- / 0.00 116.62M
Bank of South Carolina (BKSC) -- / -- -- / -- 112.92M
Colabor Group Inc. (GCL) -- / 0.02 -- / 124.3M 102.97M
Oxurion (0G99) -- / -- -- / -- 91.87M
American Bank (AMBK) -- / -- -- / -- 90.65M
United Bancorp (UBCP) -- / 0.26 -- / -- 87.36M
Educational Development (EDUC) 0.23 / -- 32.99M / -- 86.65M
Hurricane Energy (HUR) -- / -- -- / -- 81.93M
Sosandar (SOSS) -- / -- -- / -- 63.57M
Cxj Group Co (ECXJ) -- / -- -- / -- 60.9M
Rocky Mountain Chocolate (RMCF) -- / -- -- / -- 47.71M
Mawson Gold Ltd (MAW) -- / -- -- / -- 43.5M
First Bancshares (FBSI) -- / -- -- / -- 40.21M
Altitude (ALT) -- / -- -- / -- 25.09M
CLS Holdings USA (CLSH) -- / 0.00 -- / 5.97M 23.56M
CLS Holdings USA (CLSH) -0.01 / 0.00 -- / 4.5M 18.96M
TSR (TSRI) -- / -- -- / -- 17.97M
Siyata Mobile (SYTA) -0.555 / -0.555 2.55M / 2.55M 16.47M
Emmis Comm (EMMS) -- / -- -- / -- 10.72M
Intellipharmaceutics (IPCI) -- / -- -- / -- 5.46M
Intellipharmaceutics (IPCIF) -- / -- -- / -- 4.39M
National American University (NAUH) -- / -- -- / -- 3.16M
SpaceandPeople (SAL) -0.01 / -- 1.10M / --
Taiwan Semiconductor (TSM) 1.07 / 1.04 14.74B / 14.84B 527.46B
UnitedHealth (UNH) 4.52 / 4.41 72.34B / 71.3B 380.22B
Bank of America (BAC) 0.85 / 0.7075 22.77B / 21.65B 363.02B
Wells Fargo&Co (WFC) 1.17 / 0.9953 18.83B / 18.22B 191.56B
Morgan Stanley (MS) -- / 1.69 -- / 13.93B 179.85B
Citigroup (C) -- / 1.74 -- / 17.06B 142.4B
Rio Tinto ADR (RIO) -- / -- -- / -- 111.23B
U.S. Bancorp (USB) 1.3 / 1.15 5.89B / 5.76B 91.12B
Walgreens Boots (WBA) 1.17 / 1.02 34.26B / 33.01B 40.88B
Just Eat Takeaway (JETJ) -- / -- -- / -- 11.52B
ASX ADR (ASXFY) -- / -- -- / -- 11.22B
Alcoa (AA) -- / 1.75 -- / 2.93B 9.04B
Duck Creek (DCT) -- / 0.0155 -- / 69.1M 6B
Fortescue Metals (FSUMF) -- / 0.00 -- / -- 5.99B
ABG Sundal Collier (0IZM) -- / -- -- / -- 4.22B
Commercial Metals (CMC) 1.26 / 1.19 2.03B / 1.93B 3.92B
Suedzucker (0G7B) -- / 0.22 -- / 1.67B 2.77B
Hays (HAYS) -- / -- -- / -- 2.73B
Dunelm (DNLM) -- / -- 388.8M / -- 2.55B
Domino’s Pizza Inc (DPZ) -- / 3.11 -- / 1.03B 2.4B
Ashmore (ASHM) -- / -- -- / -- 2.13B
Domino’s Pizza (DOM) -- / -- 375.8M / -- 1.75B
Fagron (0HNZ) -- / -- -- / -- 1.13B
Rathbone Brothers (RAT) -- / -- -- / -- 1.11B
TomTom ADR (TMOAY) -- / -0.0404 -- / 159.5M 945.34M
TomTom (0MKS) -- / -0.0684 -- / 134.96M 814.14M
Etalon Group (ETLNGq) -- / -- -- / -- 609.67M
PAM (PTSI) -- / 0.675 -- / 135.8M 514.28M
Sabre Insurance (SBRE) -- / -- -- / -- 485.66M
Theratechnologies (TH) -0.12 / -0.07 -- / 24.77M 420.61M
Theratechnologies (THTX) -0.1 / -0.07 17.85M / 24.77M 338.42M
Del Taco Restaurants (TACO) -- / 0.0975 -- / 124.86M 326.08M
GoldMining (GOLD) -- / -0.01 -- / 0.00 240.85M
Sareum (SAR) -- / -- -- / -- 217.09M
GoldMining (GLDG) -- / -0.008 -- / 0.00 193.8M
LifeMD (LFMD) -- / -0.62 -- / 26.39M 171.36M
Meritage Hospitality (MHGU) -- / -- -- / -- 152.43M
Wealth Minerals (WML) -- / -- -- / -- 151.12M
Hepion Pharmaceuticals (HEPA) -- / -0.19 -- / 0.00 116.62M
Bank of South Carolina (BKSC) -- / -- -- / -- 112.92M
Colabor Group Inc. (GCL) -- / 0.02 -- / 124.3M 102.97M
Oxurion (0G99) -- / -- -- / -- 91.87M
American Bank (AMBK) -- / -- -- / -- 90.65M
United Bancorp (UBCP) -- / 0.26 -- / -- 87.36M
Educational Development (EDUC) 0.23 / -- 32.99M / -- 86.65M
Hurricane Energy (HUR) -- / -- -- / -- 81.93M
Sosandar (SOSS) -- / -- -- / -- 63.57M
Cxj Group Co (ECXJ) -- / -- -- / -- 60.9M
Rocky Mountain Chocolate (RMCF) -- / -- -- / -- 47.71M
Mawson Gold Ltd (MAW) -- / -- -- / -- 43.5M
First Bancshares (FBSI) -- / -- -- / -- 40.21M
Altitude (ALT) -- / -- -- / -- 25.09M
CLS Holdings USA (CLSH) -- / 0.00 -- / 5.97M 23.56M
CLS Holdings USA (CLSH) -0.01 / 0.00 -- / 4.5M 18.96M
TSR (TSRI) -- / -- -- / -- 17.97M
Siyata Mobile (SYTA) -0.555 / -0.555 2.55M / 2.55M 16.47M
Emmis Comm (EMMS) -- / -- -- / -- 10.72M
Intellipharmaceutics (IPCI) -- / -- -- / -- 5.46M
Intellipharmaceutics (IPCIF) -- / -- -- / -- 4.39M
National American University (NAUH) -- / -- -- / -- 3.16M
SpaceandPeople (SAL) -0.01 / -- 1.10M / --