I just wanted to share follow-ups to two of the most asked questions I’ve received over the past few weeks. The first…
In regards to the MYTR Broadcast™: Yes, it is getting very close to its relaunch window, which may be as soon as next week, if all goes according to plan. I’ll have more to say and announce over the coming days. Personally, I couldn’t be happier with the tweaks we’ve made to its format. So, once again – stay tuned for more details.
As to the second…
Below is the latest “picture” as they call them in Silicon Valley of the S&P 500™ as of today’s day session close. It’s basically just another iteration of the same one I’ve been using in my ongoing commentary, only more simplified.
But first: To reiterate the point I said from a few days ago…
“…that little box with the arrows pointing to it is where I’m watching for all the action.”
Here’s the “picture” I used to make that point. To wit:
“So what has transpired since then?” you ask. Great question, below is that simplified “picture” I alluded to at the beginning, again, to wit:
Just so there’s no confusion – that little “blue box” is in the exact same place as the one first pictured. I just made it a bit more defined.
As you can see the price action I was looking for to satisfy some of the parameters that would signify the interpretations this signalling mandated have not just been fulfilled, but as I’ve been saying over, and over, and over again: Sometimes, the way these patterns have been playing out, with their sheer adherence to near picture perfect, text book display, is down right uncanny. This one, once again, is of that nature.
To say it differently: the above is like being at the blackjack table holding two kings and the dealer is sitting on six cards totaling 19, there’s so many chips on the table the pit boss has decided to watch every card drawn. You can just about smell the money you’re going to cash in at the cashier window as soon as the dealer takes the next card i.e., it’s all but a 99.9% done deal. Your wife, girlfriend, significant other, date you just met et. al. is so convinced they’re calling the hotel gift shop to ask how late they stay open. Yeah, it’s that kind of moment. And then…
The dealer flips over a two of clubs for 21 made up from seven cards. What are the odds, right? Here let me help: 0.1%. Call it close enough math when you thought it was all but a done deal at 99.9%. Remember – odds are the tool of choice for fulfilling Mr. Murphy’s Law.
Well, that is precisely what this “market” has done over, and over, and over (did I say “over?”) again to the most highly probable outcomes of applied technical analysis. It would seem the advent of machines (aka “algorithmic bots”) fueled by an endless supply of “free money” (aka Fed QE) has given more than a considerable edge to HFT (high frequency traders) powerhouses of Wall Street to foil most.
But then again, there are those times that allow for just the tiniest of windows to open, and one catches a glimpse of what even the “fastest dealers” on Wall Street might miss.
As always, we shall see.
© 2020 Mark St.Cyr