Replies to post #28639 on Cycle Trading

[No-Quarter]

Yup, SSDD

Friday was the end of Q3. The chart was parked EOD Friday near perfectly at 430. The fulcrum. Could go either way up or down next week.

I'm thinking if it goes up, and we get a full bar printing above the 9MA, time to close out SPXS and take a SPXL position. Next resistance level above is 450.

If it goes down, next support level is the 200MA. 390 is the next below support level.

If the market breaks down, the next resistance level on the 10Y is all the way up to 5.25. 7.00+ is coming before it tops out.

Next week will be telling...

https://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=6&dy=1&id=p79691536710




This video is dated two days ago, but it is a recast of a pod cast from a week or so back. The insight is good. GLTY

BTW, the Fed themselves are now saying 70% chance of a recession in 2024...

https://www.newyorkfed.org/medialibrary/media/research/capital_markets/Prob_Rec.pdf

[No-Quarter]

Apparently not SSDD...

https://apnews.com/article/mccarthy-gaetz-speaker-motion-to-vacate-congress-327e294a39f8de079ef5e4abfb1fa555