The Inverted Yield Curve
This is the excuse the financial fake news is using, for today's pullback, and isn't it funny that the market can only pull-back in futures trading? I've noticed this more and more over the past year or so. The market tends to hold up into the close, only to be hammered down in pre-market trading, but the powers that be, have been manipulating futures for as long as I can remember - since the crash of 1987. This is why I keep telling folks to trade futures. If you were hedging yourself, overnight, you wouldn't be freaking out in the morning. It was very obvious where futures broke, as you'll see on the chart's below!
For those who don't know it, an inverted Yield Curve is a widely accepted signal that a recession is coming, within a year or 2. I used to listen to Bob Brinker's Money Report, on a local AM radio station... so I've known this for decades, but to use this long term indicator as an excuse for a pullback is laughable.
I suppose as long as Trump is in office, the cable networks are going to be the bearers of bad news, and they would rather see his team fail, than see the U.S.A. win.
Yes there's a recession coming, and worse, and my timeline is currently for around this time next year. It's been 10 years since we've seen a bear market, so we're way over-due!
Today's trade:
Those who watch the Public Charts area, know I was charting live yesterday afternoon, looking for a pullback target, and I liked the 2910 level, but I'm seeing that being taken out... The FIB target around 2900 is also taken out. I do see support around the 2892, and 2888 level. We'll have to see what the open looks like, and I'll be charting the open, as usual.$SPX - I may switch out this 1 min chart, for the one in the Public Charts area.
This is the 1 min chart you're seeing up there now:
$VIX 20 is going to be the magic number. You'll see selling above 20, and this is why the PTB drive it above that level. Then they come in and drive it back down, once they're done loading the truck.
Also watch the $VIXY. The previous high was 24.74, and unless it can get above that level, fear has already peaked out.
$SPX Daily Candlestick Chart:
I believe the market can continue to melt up to that 2960 level, before pulling back. See the grey arrow on this DCS chart, and I should add this chart to the Public charts area.
Looks like like I got the direction on Oil right, and Gold miners are set to rally into a capitulation top.
I also got $SOX right, and that the thing I said to watch.... It was a monster rally!
We'll see what happens at the open.
GL Traders,
AA
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