I was able to post an update to my LinkedIn, just before Sept. OPEX, when I sounded the warning that the market was likely NOT going to hold up into last Friday, and low and behold I was right again! I was also right when I said the 50 day ma, was likely to hold, and the $SPX closed just above that level yesterday. I pegged support at "2960", and anyone watching the 5 min chart - in my public charts area - knows I've been alerting to this level for several weeks.
So I'm pretty darn proud of this call (s), seeing as it was an easy pullback to predict, as was this 2960 support area. I think it doesn't get any better than this!
It's nice that the market has behaved itself over the past week, or 2, but I'm not sure where to start. There's a lot going on, and I'm still busy with my side projects, and preparing (prepping) for the worst.
Long term:
In the last blog I was extremely bearish, and most people probably think I'm nuts when I predict WWIII, but there's no way Russia can stay out of a conflict between the US and Iran. The stage has been set! See:
Paul Craig Roberts: Is Armageddon About To Unfold As The World Sits Stupidly?
Short term:
The political theater of the absurd continues, as does the staged coup against our sitting president. Some claim this (threat of an impeachment hearing lol) is what's moving markets, but it was about the time Trump threw the globalists under the bus in his UN speech, when the market sold off.
$SPX - Last I checked we were seeing another little snap-back rally, off the 2960 target, but now the #VIX has broken out, I believe we're going lower. The next target looks like a gap fill around the 2937 level.
For whatever reason the market waited until Tuesday to roll over, even though Germany lead the decline. The selling seems a little too orderly to me.
I've added lot of charts to the public charts area, but don't have time to get into those this morning.
Take Care, and when the $VIX breaks out above 17.50, don't forget to pull the parachute!
AA
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