Hello Everyone,
Market Observations:
Long Term: Bear Market, Intermediate Term: Downtrend, Short-Term: Downtrend
Market Comments: Another down day in the market today. Short term we are getting quite oversold and we could soon be due for a larger 4th wave bounce. Bitcoin is trying to hold a support base, could be a short-term positive.
Bonds/Rates
: Another strong move lower in TLT 20 year bonds, which is now down -29% for the year! 10-Year Yield rose sharply again today and is now at 4.9%. 30 Year mortgages are now averaging 6.5 - 7%!
Currencies: The US Dollar closed up sharply once again another 1.1%. The US Dollar is going parabolic now - if this continues something may break
Reversion-to-the-mean systems: SPY Stoch Short covered today, while 2 new long systems triggered 1st entry: Bear Exhaustion for ES and the QE 3.2 for SPY
KISS Trend Systems: KISS daily systems have been in cash since 8/26/22
enjoy the rest of your evening,
Matt
