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Wednesday, October 2, 2019

Market update 10/2/2019 - Part 2

It's been a busy morning but most of the Public chart have been updated; I've been providing real time $VIX alerts, and I've even added a short term NASDAQ chart. It's one of the few charts, where I was able to find a bearish channel, and kind of fits the pattern we've been seeing lately.

$EEM - Ideally you want to be able to establish a trend, and in hindsight, the trend on emerging markets is clear. Nice clean channel.

So this sell-off seems to be all about Energy, and Emerging markets, more than anything else.

Getting back to the $VIX: Yesterday someone I've never seen before comes on CNBC, to tell us the $VIX always spikes in Oct. I knew this was BS, but I thought it would be good to document it, as such.

$VIX does not usually spike in Oct., so why would CNBC publish these lies? I think you know why.
 Truth is the $VIX has only spiked above the 200 month moving average, a few times in the past 10 years.

So, then I thought, maybe I better check the $VXN. Maybe the NASDAQ sells off in Oct? Uh, no, 'fraid not. There's no correlation that I can find that ties volatility spikes, with the month of Oct., and that confirms everything I think about the financial fake news, and those who manipulate it.  

I mentioned in my annotations - on the 15 min SPX chart - located in my public charts - that I like energy, and Oil service stocks, so I wanted to publish that chart. Oil may have given it all back, but not the oil service sector.

  Fed Chairman Jerome Powell is expected to deliver a dovish speech on Friday, and that's bound to send volatility plummeting. 

That's all the time I got.
Be long or be wrong,

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