•Rates and valuations are high
•Looming recession
•Geopolitical tensions ↑
•Very Bearish Gravestone doji on Friday
•More rates coming
•Market is extremely overbougth
•Dollar is going ↑
•Inflation/Commodities/Oil ↓
•SPX made a higher low and a higher high: Trend change
•Most charts are bullish
• $FAANG chart bullish
•All Breadth indicators are very strong
• $VIX, $VVIX still in strong donwtrend
•Expecting retest of #SPX 4100 breakout, #DJI 33350 area, #NDX 12000 area
•Momentum is up, but a rest is needed. Friday's Gravestone doji indicates so
•4074 needs to hold
• $VIX won't go above 20.5, worst case won't go above 23.5
•Earnings will help
NEXT WEEK
Comments:
•Impossible for a TA trader not to be bullish, but it's better for the market to take rest and not to run too fast and become extremely overbought
• The breaking of #SPX above 4100 makes a trend reversal. It needs to hold above it
•Rates and valuations are high
•Looming recession
•FOMC: FED will be hawkish
•Geopolitical tensions are increasing
•Earnings will be low
•Macro enviroment is ugly
•Layoffs are increasing
•Inflation/Commodities/Dollar are down ↓
•All indices are above their MA
•Tech leads and charts are bullish
• $FAANG and $TSLA charts are bullish
•Breadth indicators are strong
• $VIX, $VVIX and #DXY in strong donwtrend
•Rates and valuations are high
•Looming Recession
•Geopolitical tensions are increasing
•Earnings will be low
•Macro enviroment is ugly
•Layoffs are increasing
•Inflation/Commodities/Oil/Dollar are down
•Techs are taking the lead again
• $FAANG chart is bullish
•Breadth indicators are strong
• $VIX, $VVIX and #DXY in strong donwtrend
•Positive divergence from CCI, RSI, ROC, Stochastics #SPX#ES_F $SPX
•Recession is just around the corner
• Rates and valuations are high
• Geopolitical tensions
• Friday, stocks rise on low volume
• Earnings will be low
•China Covid shutdown hurt earnings
• Market is overbougth
• #VVIX is rising
• Inflation/Commodities/Oil/$ are ↓
• $DJI chart is very bullish. $DJT and $IWM also look good
•Up week on increasing volume
• $VIX and #DXY in strong donwtrend
•Breadth indicators are strong
•Positive divergence from CCI, RSI, ROC, Stochastics
If you haven't read it
From our newsletter:
$DJI
"Last Friday it managed - just like the $DJT and $IWM - to make a solid upward breakout... did so on high volume... close above the 20, 50, 100 and 200DMA.
All indicates that this will most likely be the way forward for the #SPX"
" #DJT made an excellent breakout and closed above 20 and 100DMA. It closed right at its 50DMA. Bullish action from a leading indicator. $DJT will have to surpass the conjunction of 50DMA and 200DMA next week, in order to validate more upward moves"
It did that yesterday
"A follow up rally is expected to allow it to break out of the Noise Box and break above at least the 20DMA.
On Monday it broke above the Noise Box, yesterday above the 20DMA, today above the 50DMA"
•Recession is around the corner
• Rates ↑
• Geopolitical tensions
•CPI is coming
• Bearish monthly engulfing candle on the main indexes
• Charts of market leaders are broken
•Bearish flag on the index charts
•Inflation/Commodities/Oil/ $DXY are ↓
• $DJI and $DJT broke above consolidation
•Higher volume on up days
• $VIX in strong donwtrend
• $VVIX broke below support, is at 2017 levels
•Positive divergence from classic indicators
•Breadth is + #SPX