•High inflation, and high dollar
•Rising Interest rates
•Recession
•Geopolitical tensions
•Technical destruction of index charts
•Negative $Gamma regime
•Bearish weekly candles
•Violation of June lows
•Commodities are down
•Oil is down
•Extreme readings on many sentiment/breadth indicators
• $VIX Buy-SPX signal is alive and well
• #VIX and $VVIX are back below resistance
•Positive divergences in breadth and vol
•Bearmarkets extremes, green or red, mark reversals. Market in extreme red right now
•June lows violation, bear trap? 3575/3584 area will tell us
•Bounce will be confirmed above 3636
•Whatever path it takes, strong moves will follow
•High inflation, dollar, and Interest rates
•Recession
•Geopolitical tensions
•Technical destruction of index charts
•Negative $Gamma regime
•Bearish weekly candles
• $VIX & $VVIX are alive and kicking
•Dealers cut a big chunk of their longs
NEXT WEEK
The Bull's take
•Friday's bullish hammer candle
•Extremely low readings in several indicators
•Extreme equity put buying
•Indices are at important regression support
•Commodities are down
•Oil's down
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