Friday, September 16, 2022

Morning Post 09/16/2022 SPX

World is going mad. Must be something in the water or air (maybe even outer space). All three together? 

Good v evil 

On to the lie - 

Minis off 33 taking out 3900 support. That won’t help cash one bit. Two things to know about cash. First there’s an open gap at 4200. Second, on the daily they left an island gap up to 4075 within that 75 point train wreck open the other day. More SPX fun facts - 20ma will go back under the 50 today. Did you know the 20, 50 and 100 are all within 30 points? Super support around 3500 with weekly 200 and monthly 50 HnS target- but I still want full retracement and my beloved long called 3200 to come to papa. Around November 15 3400 has one of those possible obvious points to target. 

And for the permabears out there - the monthly 20ma is just now finally hinting at hooking south. Like it was so out of whack it’s finally noticed this correction. Get that bad boy rolling south and real pain will be coming down the tracks. GL fighting that Fed! 

More to come below.

Have a good day.

GL and GB!

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