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Permabulls are positively salivating over this pattern but markets are in distribution NOT accumulation presently


$BPSPX ticked up - however, seems destined for a lower high vs $SPX

#mcmSentimentIndexes and #mcmPanicEuphoricIndexes

panic to euphoria in a matter of days

$VIX $BONDS - just say NO to $SPX

$bank s liked the $BOND moves which imo means that markets are likely to be dissapointed by Janet Powell‘s moves next week


$SPX its just a retest imo

$SPX in the top 11 most over bought conditions since 2009 low

Interest rates before the 1929 depression

What rate spreads are forecasting for Volaility...appear to be a multi year episode $VIX $UST

Yes $UST and #equities can trade in high correlation & for extended periods - as you can see the #10yrBond has traded in very similar correlation to the $SPX as the $BKX

While it appears the expectation for higher rates is being priced into SOME banks like $JPM the $BANK index as a whole and $GS are significant laggards - so, JPM once again (being a powerful board member/shareholder of the @federalreserve) is again the chosen one?

$COMPQ is again at the highest valuation vs $GDP since 2000 but its nothing to be concerned about

Update on my #buybacks chart in which McClellans are starting to get into testing distance of uptrendlines and #buyback performance has snapped back pretty significantly in the last 4 trading sessions

Note $NASI McClellan Summation 2nd from bottom is testing zero line $SPX

McClellans all of them vs $SPX

$RUT vs $SPX

Long-term $SPX line chart keeps testing major resistance and may want to again

$HYG bid to the highs and oblivious to major bond markets - imo this seems like a pretty big deal, mispricing and desperation of market participants that won’t end well



Each manic blow off episode in bonds vs $SPX has resulted in further liquidations after squeeze was over & b4 markets cod clear to go higher BUT THIS ONE TAKES THE CAKE - biggest blow off in bond/$SPX history & imo liquidations coming will be too

Bond selling not over imo
22/ Speaking of $UST this is my study this weekend that looks at this dislocation in depth and is worth a repost in this thread... $SPX

$SPXEW shows that the advance has been thinning (losing participation) & majority of market is in DISTRIBUTION for years now - this thining participation has NOT benefited from this bounce and did not get divergence/higher low on this pullback either

$USD $DXY inflection points tend to have broad impacts on markets in inflicting turns on them as well...the $DXY tends to have inflection points that lag by 24 to 28 trading days or so vs $SPX

$BTC model still sees liquidity issue directly ahead for $SPX as you can see in the forward projection

The $BDI projection also suggests trouble ahead for $SPX and risk

Up/Down volume is much more important than A/D which is a scam/victim of financial engineering number imo

So far this is showing the THIRD major divergence setting up if shorter-term divergence also comes that would likely be something not to ignore $SPX

$QQQ looking kind of troubled

$VVIX ratio to $VIX just an interesting chart

The big picture $INDU

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