- 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
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 !!!