MARKET ENVIRONMENT:
The interim trend has reversed. An expected minor “suck it up” recovery has occurred. Some bouncing potential is still possible. But today’s break very likely signals the onset of Killing: “This is a very unusual pattern in that the market can move very quickly.” An Interim Trend decline may become persistent. Hourly charts and even shorter term charts are the key to getting in position. This is a fluid situation. Black Holes are looming but they are still far away from any bottom.
Near Term Diagnosis: Sentiment is 34% Bullish. Stocks still have not been able to release to the downside…until today?
Interim Term Diagnosis: The Interim Trend has turned down. Generic corrective behavior may unfold for months.
Long Term Diagnosis: The next major Low is due in 2022.
Member Email: Hi Gary, I appreciate yours and Woody's work so much!! There are so many out there that do not do a service for clients and you two are top notch!
Have a great day and a blast with the long weekend. Becky
That is from our premium report we sent out this morning--We have been warning about the "Kill Zone" to members since March. The hear no evil-see no evil bulls, sent nasty emails about trying to short the biggest bull market ever-just as they did in September 2018. People don't understand that the majority will get extremely bullish and bearish at the exact wrong time. Just as the majority will most likely capitulate just as we are going to make a low.
If the bears take the spx below 2800, 2770 will become a magnet. The bulls need to get back above the 2830 to stop the bleeding-FOR NOW! This is far from over, so being patient and waiting for the next sell trigger is the best trade set up here. I continue to hold the 1/3 short trade from 2942.
Have a great long weekend-most likely no posting tomorrow-things are already in place and I am getting into holiday mood ;) The next 0% sentiment reading will most likely trigger a short term bottom-it is nice knowing what everybody is thinking when managing trades. G
The interim trend has reversed. An expected minor “suck it up” recovery has occurred. Some bouncing potential is still possible. But today’s break very likely signals the onset of Killing: “This is a very unusual pattern in that the market can move very quickly.” An Interim Trend decline may become persistent. Hourly charts and even shorter term charts are the key to getting in position. This is a fluid situation. Black Holes are looming but they are still far away from any bottom.
Near Term Diagnosis: Sentiment is 34% Bullish. Stocks still have not been able to release to the downside…until today?
Interim Term Diagnosis: The Interim Trend has turned down. Generic corrective behavior may unfold for months.
Long Term Diagnosis: The next major Low is due in 2022.
Member Email: Hi Gary, I appreciate yours and Woody's work so much!! There are so many out there that do not do a service for clients and you two are top notch!
Have a great day and a blast with the long weekend. Becky
That is from our premium report we sent out this morning--We have been warning about the "Kill Zone" to members since March. The hear no evil-see no evil bulls, sent nasty emails about trying to short the biggest bull market ever-just as they did in September 2018. People don't understand that the majority will get extremely bullish and bearish at the exact wrong time. Just as the majority will most likely capitulate just as we are going to make a low.
If the bears take the spx below 2800, 2770 will become a magnet. The bulls need to get back above the 2830 to stop the bleeding-FOR NOW! This is far from over, so being patient and waiting for the next sell trigger is the best trade set up here. I continue to hold the 1/3 short trade from 2942.
Have a great long weekend-most likely no posting tomorrow-things are already in place and I am getting into holiday mood ;) The next 0% sentiment reading will most likely trigger a short term bottom-it is nice knowing what everybody is thinking when managing trades. G
