Wednesday, August 17, 2022

Morning Post 08/17/2022 SPX

We’re fighting back. 

Good v evil 

On to the lie - 

Cash got rejected by the 200dma and minis are off 34. It would have been seriously bold to have plowed through the 4330 area. Rejection is good and consolidation should occur. Looked at the DOW and it’s ascendance above resistance is ahead of SPX, but their historical 10% price relationship is still off kilter. One must come to the other. DOW just destroyed some resistance levels it shouldn’t have. It has broken out I dare say. How do they get back in balance? Do they ever? If I had to guess, based on fraudulent Fed actions, I’d say DOW goes up and SPX stalls. If the both don’t stall. I’d prefer, I’d really like to call, DOW to stall and SPX fall to meet DOW near my preferred 3200 target area. Selfish? Me? Ha! 

More to come below. 

Have a good day. 

GL and GB!

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