SPY - Daily / The Largest Reversal Bar since the Lows
Friday was rough for Traders' offsides. I'm reluctant to even state the obvious at this point
as it is self-evident. If you were on the incorrect side, feel for you as it was an insidious trap.
In conversations with Traders, the large majority were Buyers for Friday. My bias was lower
and a Negative close as SPX buyers had positioned for the Kill.
The Falcon and the snowed-men, it happens, unfortunately, some must lose in order for
others to win. Wall Street is very unforgiving at critical junctures, taking Retail's Capital.
Powell provided the color in 8 very direct minutes - to the point, no stammering, no wavering.
_____________________________________________________________________________________
I had intimated the 2YY was providing some serious indications, the Dollar, even more, SPX
positioning was downright nasty for the Sell and once again made Max Pain irrelevant. QT
utterances would have been a total disaster, but Powell sidestepped the worsening case there.
More importantly, for months I've discussed the deteriorating Global Economy and Terminal Sentiment.
Fundamentals are quite often ignored as the Financial Media will pander to Multiple Expansions,
Recessions out the Curve, Yield Curve inversions as "questionable events," Liquidity Dislocations...
all of these are obvious indications - and yet they are muted via Financial Media's messed up
message track.
It did suck to watch frankly - Cronyism at work and play. Again, if you were beaten, my condolences.
_____________________________________________________________________________________
After another very odd 5 Wave move into the Highs at Resistance, Once again lower Resistance was
run only to see the Sell begin a very large decline, exceeding 4% on the NQ an event which 18/18
times has led to Lower Lows.
Lower Lows are indeed ahead.
A continuation of the powerful Sell is now assured, how it unfolds will be quite telling.
The rising Lower Trend will be an important test.
I am, however anticipating another 8 to 11% Downside, perhaps far more. It is too early to make
that determination as we need a great deal more information.
Let's see if Black Monday we've indicated - arrives.
Good Luck, Trade Safe.
as it is self-evident. If you were on the incorrect side, feel for you as it was an insidious trap.
In conversations with Traders, the large majority were Buyers for Friday. My bias was lower
and a Negative close as SPX buyers had positioned for the Kill.
The Falcon and the snowed-men, it happens, unfortunately, some must lose in order for
others to win. Wall Street is very unforgiving at critical junctures, taking Retail's Capital.
Powell provided the color in 8 very direct minutes - to the point, no stammering, no wavering.
_____________________________________________________________________________________
I had intimated the 2YY was providing some serious indications, the Dollar, even more, SPX
positioning was downright nasty for the Sell and once again made Max Pain irrelevant. QT
utterances would have been a total disaster, but Powell sidestepped the worsening case there.
More importantly, for months I've discussed the deteriorating Global Economy and Terminal Sentiment.
Fundamentals are quite often ignored as the Financial Media will pander to Multiple Expansions,
Recessions out the Curve, Yield Curve inversions as "questionable events," Liquidity Dislocations...
all of these are obvious indications - and yet they are muted via Financial Media's messed up
message track.
It did suck to watch frankly - Cronyism at work and play. Again, if you were beaten, my condolences.
_____________________________________________________________________________________
After another very odd 5 Wave move into the Highs at Resistance, Once again lower Resistance was
run only to see the Sell begin a very large decline, exceeding 4% on the NQ an event which 18/18
times has led to Lower Lows.
Lower Lows are indeed ahead.
A continuation of the powerful Sell is now assured, how it unfolds will be quite telling.
The rising Lower Trend will be an important test.
I am, however anticipating another 8 to 11% Downside, perhaps far more. It is too early to make
that determination as we need a great deal more information.
Let's see if Black Monday we've indicated - arrives.
Good Luck, Trade Safe.
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