Monday, February 7, 2022

Morning Post 02/07/2022 SPX

Good vs evil 

On to the lie - 

Minis up 4 with a 33 point in range and two round trips. That means the ppt was in play yet again saving not one but two shots at weakness last night. Pretty simple technically, playing dodge car in the middle of the road between the daily 20 and 200ma (read that again - between the 20 and 200 - not good) all the while at the top of a potential right shoulder of a 500 point head and shoulder formation between the weekly 20 and 50ma  after a very indecisive candle Friday. The weekly 100ma around 3800 would be the support target.  That’s getting close to my beloved 3200 level I like so much. For those counting - a big 5 wave move we’re at the top of 2 and about to face the huge 3 down and measuring to the weekly 200 at 3360 looks pretty sporty to end the wave.  That’s about concise as it gets. Of course I’ve been laying this out for over a month now. If that sounds like we’ve fallen off the top of a mountain and we’re clinging to an edge for dear life, you’d be right. But that’s all old school mumbo jumbo cause it doesn’t mean a hill of beans in this fake pos Fed controlled market. But you never know, I’ve always said that price rules and TA would get it right in the end. So, is this the end? Sure looks like it to me. I don’t know, it’s the elites world and we’re just their sheep. Suckers rally anyone or was the suckers rally the whole post CCP virus move? 

More to come below. 

Have a good day. 

GL and GB!

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