Monday, February 21, 2022

Morning Post 02/21/2022 SPX

Good vs evil (on display in Canada for all to see)

On to the lie - 

The futures went fake war on/off/on last night. Off 20, up 32 and now off 25 - if you thought there was real possibility of war we’d be off just a tad bit more don’t you think? No matter, price is under resistance and support comes at 4200, 4000 and then the weekly 100ma at 3875. Real possibility of the 500 point HnS about to do its thing. Dip, backtest, collapse which just about targets weekly 100ma at 3800. (For those counting - 3 of 3 of 1 coming - ooof we got a long way down if that’s correct.) 

The daily chart might be useless from this point forward except to look at ma positioning. I’ll cover that tomorrow. The 20 is now under the 200 and the 50 is rapidly approaching the 100. 

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