hmmm

SPY and QQQ have demark 9 on 60 min.  Sequential countdown bar 11 of 13 on SPY.

housing (rental) is 1/3 of CPI if I my memory is correct. Svc inflation not sure how much weight - but US (and all other developed countries) are virtually service economies.

CHOP is my base case for 2023 actually haha. 4100-4200 on upside and 3300-3400ish downside. I am feeling that this opinion might be getting a bit too popular though, especially all the big sell side firms pointing to ugly H1 and rebounding H2.

Tudor Jones by the way, seeing the market 7-8% higher this year (meaning closing at 4150ish) because of buybacks and cash on the sideline, IF THE FED DOES NOT BREAK THE ECONOMY. I shared a link of his interview earlier today.

One other factor keeping me from getting too bearish is this is a pre-election year. 

Service Inflation (labor shortage as you mentioned) and rental prices will be key. Histrically the turn in rental prices lag the resale housing prices by ~6months I believe

Hahah regarding CNBC, Cramer said recently this rally won't last.

Tudor Jones latest Interview on this

https://twitter.com/SquawkCNBC/status/1612813043859161088?s=20&t=JomU07IvbNBZAa1qE67-ww

Is it a bullish or a bearish one, my diamond experts?   

Hey Matt, may I ask what script you use for demark in Tradingview? Pardon me if it's your proprietary one. Thanks.

If wave 3 up, the falling wedge patterns on QQQs and COMPQ should play out?  TD sequential 13s on weekly for both.

Thanks Matt. That was a quite decisive symmetry break. If wave 3 up, we should get stronger trend days tomorrow or on CPI day.

To screw everyone up lol

SPY, QQQ and SMH all have demark sell setup 9 on 60 min.

Curious how many bulls and bears got destroyed in this range.

Per Spotgama, the put wall on spx has shifted down to 3700 becasue of shift in stike price. It has to go on the upside and if 3800 is tested again, much higher risk now.

Chris Verrone on CNBC: https://www.google.com/search?q=best+names+have+to+drop+to+pre+covid&oq=best+names+have+to+drop+to+pre+covid&aqs=chrome..69i57j33i160l2.11104j0j7&sourceid=chrome&ie=UTF-8#fpstate=ive&vld=cid:fbcd7b9e,vid:5pwf84onyBQ 

Chris Verrone on CNBC: https://www.google.com/search?q=best+names+have+to+drop+to+pre+covid&oq=best+names+have+to+drop+to+pre+covid&aqs=chrome..69i57j33i160l2.11104j0j7&sourceid=chrome&ie=UTF-8#fpstate=ive&vld=cid:fbcd7b9e,vid:5pwf84onyBQ 

Maybe that will be the final capitulation. Right now my read on the average retail investors are that they are bearish on the economy/recession but think it's too late to sell lol... We need them to finally capitualte. What people do > what people say.

Even IBKR is paying 3.8-3.9% on idle cash. Amazing times as we are just 1 year away from 0 interest rates.

so this time the numbers are well kept & not leaked in advance lol.