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Fed’s Harker sees ‘lack of progress’ on inflation, expects aggressive rate hikes ahead
https://www.cnbc.com/2022/10/20/feds-harker-sees-lack-of-progress-on-inflation-expects-aggressive-rate-hikes-ahead.html
I'm not seeing anything earth shattering that would cause this sell
https://twitter.com/financialjuice
Glad I caught that high thanks to you. Staying short via SH till mid next week. Not expecting a crash but a higher low than 3492.
Yeah, we may chop around today/tomorrow but doubt we crack 3762 now for this run. Should head down to that low next week (10/26-27).
Thanks for the fork Jerry!!
Shorted at top of the fork :)
Perhaps wave1 is 3491 to 3762 and now this is wave 2 down
Ha ha, comparison charts to fit "your wildest dream"! :)
This ain't 1929!! The Market was at the VERY Top at that time ... we are already 25% off from the highs.
Close below 20dma at 3672
will mean it is heading lower to 3580-3600 first area of support.
Thanks, looks like we may not get that usual bump next 2 days but head lower into expiration and into that 10/26-27 low. Hopefully, it is higher than 3492. Let's see
$SPX Net S/A $Gamma, monthly expiration (10/21)
— Point-Blank-Trading (@PointBlank_Algo) October 19, 2022
Not what the bulls would like to see. Most of the #Gamma is negative with the main stack at 3650.
That big negative mass will drag the market down unless there is a $GEX structure change.
Chart from @TradeVolatility #SPX $ES pic.twitter.com/jTAGmVDYxV
Chart was too small ... couldn't see numbers/anything after zooming.
Anyways, looks like we chop between 3580-3600 to 3760-3800 for a bit.
Perhaps it already topped out at 3762 and is doing a retrace of the run from 3492 ... I'm out of longs!
Yeah, need balancing days as well ... 3770-3790 will have to wait for another 1-2 days now! As you pointed out, Thursday/Fri strong during this expiration week.
I still see chance of 3780 - 3800 tomorrow ... NFLX leading the pack!!
Thanks Keep!
Yep, holding and staying long ... will watch how we end today and evaluate tomorrow a.m. as we approach 3800!
I will flip and join on the short side as well if we get to 3800 by Wednesday. However, just don't see this dropping to 3200 this month. Probably later ...
Excellent info Jerry and agree no bear suit for at least a month!
All CRASH talkers should dissapear in 3 weeks :)
I think the decline from the 4325 high ended at 3492. Now, we started a corrective retrace rally into midterms!
0.382 (3810) or 0.5 (3908) max retrace here chopping up/down over the next 3-4 weeks!
ABCD up measures exactly 3800!!
Thanks J for the weekend updates! Agree that if no bad news on weekend, Bulls have a shot at taking this back again to the 3700 range next week.
Haha, 2.3% down day now qualifies as a resting day! :)
Insane market moves!
Agree. That would satisfy gdl's ego as well :)
All eyes on BOE this weekend! And rescue act if any .... If they want to remain our allies, they better cooperate and not create havoc before the mid-terms :)
VIX barely moved today despite the huge drop!
Hmm, and they closed it under the 200dma and key 3585 level.
Good advice!
Let's see where they close her. Under, Over or exactly at the weekly 200dma :)
Bear traps and Bull traps everywhere!
Park/close at 3600-3602?
That's the 200 dma and also 50% retrace of move from 3492 to 3712
Wow, yo-yo market
Back to 3576 support looks like!
good news ... bad news
UNIVERSITY MICHIGAN 5 YR INFLATION PRELIM ACTUAL 2.9% (FORECAST 2.8%, PREVIOUS 2.7%) $MACRO
— FinancialJuice (@financialjuice) October 14, 2022
Too far Too fast!
I think we chop/balance here in the 3660-3710 area under the 20dma for at least couple of days to digest the massive gains from the lows.
Yes, 3770-3800 minimum target next week!
You think they will give us minions a 5 day notice to prepare for a meltdown and limit down day? :)
https://www.ft.com/content/87a5b7bf-6786-427f-89d6-96b736dcb814
Yes he is and J has mentioned him here as well as he posts on Ihub too
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170192280
While Twitter finwit is filled with a lot of crap, thanks to Learningthetruth, found a few notable ones that I follow besides this board.
WU and Mauro don't get along and are the EW guys
https://twitter.com/MauroBianchi24
https://twitter.com/MasterPandaWu
https://twitter.com/yuriymatso
https://twitter.com/PointBlank_Algo
https://twitter.com/FinanceLancelot
Relentless insane buying/short covering
Thought it would get to the 3700-3710 20dma range by tomorrow but that is a magnet today likely! :)
Cyclesfan nailed the low
$SPX Didn't make a lower low today so the 40 TD cycle either bottomed on Tuesday or will bottom tomorrow. Today was the 6th down day in a row for the 2nd time in 2022 after 9/27. 9/28 was a 2% up day. Tomorrow will depend on the CPI by statistically the odds favor an up day. pic.twitter.com/tTIqdXOPPd
— CyclesFan (@CyclesFan) October 12, 2022
$SPX - In addition to the 40 TD cycle which I've been posting about in the last few days, the short term cycle low of 8-10 trading days, was also due this week(October 12-14) and it looks like it bottomed today at 3492. pic.twitter.com/9SRv3qGytz
— CyclesFan (@CyclesFan) October 13, 2022
Flush then rally indeed!
Oversold rally was in the cards.
$SPX
— Point-Blank-Trading (@PointBlank_Algo) October 12, 2022
Several indicators are again at or near extreme readings, including the distance between the #SPX price and the $Gamma Flip point, which is at about 1.5 stdev. Near 2 stdev could be taken as a buy signal.
If #CPI pushes the market lower, a big oversold rally could occur. https://t.co/J6SXdaE4R9
If everything closes green today, will be interesting to see how they spin the headlines!! :)
I don't think he tweeted that it would come in lower. He presented the MoM data and asked for comments. This is what he said "Do you think CPI comes in lower or higher than expected for SEPTEMBER? Let me know in the comments."
Data actually pointed to lower than last month, which was right. It was slightly higher than estimates which are rigged anyway.
yeah, so that's why no movement yesterday on Fed notes. Big Boyz knew this data ahead and taking it down to balance area target this morning!