Key Observations from weekend

    Posted by matt on 20th of Jun 2022 at 03:10 pm

    - SPX has made it to some of our major target areas: 3650, other targets 3600 (symmetry from 2020 low), 50% Fib 3500

    - Daily charts appear to be in their 5th wave moves - however from a sub wave perspective may need to see an down then up move in order to complete i.e. ending diagonal.

    - SPX has a Demark 8 Sequence and Tuesday will mark a Demark 9. Trade lows have been occurring near near the 9 sequence this year

    - SPX lower monthly Bollinger Band is at 3529. The middle Bollinger Band is now long term resistance in this bear market

    - Hedge Funds entered are now the 2nd most short they have ever been

    - 10 Year Yield sports a spinning top black candle doji along with RSI divergence - may soon pullback here

    - Commodities appear very toppy now, they are in bull markets but may be due for a correction (that and along with a pullback in rates would help fuel a decent bear market rally)

    - I'm seeing positive divergence in various indicators vs the SPX

    - I'm starting to see an uncorrelation between the VIX and the SPX

    - Once a decent trade low is in place - REMEMEBER this is not the start of a new bull market, it will simply be a bear market rally within the long term bear market

    - Earnings Season starts again soon

    - BPENER has fallen to 9%

    Great summary .... thx !!!

    Posted by mla127 on 20th of Jun 2022 at 11:10 pm

    Great summary .... thx !!!

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