Today – 08/25/202208:30 am EST GDP08:30 am EST Jobless Claims10:30 am EST EIA Natural Gas Report04:30 am EST Fed Balance SheetReporting earnings: AFRM BURL CM DELL DG DLTR ESTC HAIN MRVL SCVL TD ULTA WDAY
Market Structure.
Short Term Trend Remains Down.
Balance. Back to back balanced auctions in the E-Mini S&P 500. This balance area is 4120 / 4160. Positions are being built between these levels. My thesis is the resistance 4160 may become support if we break above it or the support 4120 may become resistance if we break below it.
4220/4180. Technically this is an area of resistance due to the large weekly gap down. This could be an area to swing a short if you are looking to with a tight stop. Bulls want to fill this gap but first they have to close above 4160 to move back up higher.
CL_F Oil / The Bonds TLT.
Like I said with oil above 90 I want to be looking for good areas to short the equities from a R/R perspective.
TLT is trading down near its lows from June around 110, while the S&P 500 is still up 500+ points off its June lows.
IMO this all just is not looking good for stocks longer-term. Remember the bonds are always right. The bonds will react maturely relative to the economic data and stocks may lag behind before eventually catching up to the bonds.
Stay Frosty!
Market Structure.
Short Term Trend Remains Down.
Balance. Back to back balanced auctions in the E-Mini S&P 500. This balance area is 4120 / 4160. Positions are being built between these levels. My thesis is the resistance 4160 may become support if we break above it or the support 4120 may become resistance if we break below it.
4220/4180. Technically this is an area of resistance due to the large weekly gap down. This could be an area to swing a short if you are looking to with a tight stop. Bulls want to fill this gap but first they have to close above 4160 to move back up higher.
CL_F Oil / The Bonds TLT.
Like I said with oil above 90 I want to be looking for good areas to short the equities from a R/R perspective.
TLT is trading down near its lows from June around 110, while the S&P 500 is still up 500+ points off its June lows.
IMO this all just is not looking good for stocks longer-term. Remember the bonds are always right. The bonds will react maturely relative to the economic data and stocks may lag behind before eventually catching up to the bonds.
Stay Frosty!
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