Once it hits the +3 stdev line (if it does) it should experience a Mean Reversion (again) now at 105.22.
The momentum indicator is posted on Tradingview: Enio_LR_SlopeMLC, it measures the slope of the channel. It is set to 14 days to assess whether the momentum is up or down..🧵
...in the short term
When it crosses below zero (red line) the channel has negative momentum
•High inflation and high dollar
•Rising interest rates
•Geopolitical tensions
•Indexes falling on high volume
•Bearish daily candles
•Indices rejected from their 200, 20 and 50DMAs
•VIX is above 20, 50 & 200DMA
•Neg Gamma regime
$SPX $ES $SPY
NEXT WEEK
The Bull's take
•Indices are sitting at important Fib level
•Indices hold above support
•Commodities are down
•Dealers remain net long positions
•Some leader stocks are holding
•GDPnow indicator is up