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Wednesday, September 29, 2021

Market Update 9/29/21 - Choppy trading continues

Yesterday's sell-off was not at all unexpected, if you look back at the past few updates.  

During yesterday's trading session, I suspect most folks were watching Janet Yellen make a mockery of the US Treasury, in order to try to pressure moderate Democrats into voting for a ridiculous $3.5t spending bill. And if that wasn't surreal enough, (Fed member bank) JP Morgan released some breaking fake news of their own, to spike the ball!  Jamie Dimon says JPMorgan has begun to prepare for potential US default (CNN and several others news agencies)

So right there, you have proof of The Fed, The US Treasury, and the cable News networks all colluding, to pushing a leftist/ socialist narrative, all the while the market is being trashed (by you know who). This is the worst kind of deception, but it's nothing new; it's just so blatantly obvious to anyone who's watching with eyes that can see...  talking about discernment here. But it seems most people just believe whatever they see on the evening news, and don't seem too concerned how their taxes are being spent.  

Yesterday's Trade:  

I was expecting more of a pop in Energy, Oil, and Natural Gas, but I didn't find the selling opportunity I was hoping for. Maybe I missed the boat, but I doubt it. This morning we see Energy down only slightly. 

As far as the broader market is concerned:

We didn't see much fear, regardless of the negative stats being pushed by the financial fake news; "Worst Sell-off Since May"? (several news sources). Regardless of weather that's true or not, the $VIX remained rather muted - as it was seen trading way lower than it was during last weeks surprise bear raid. This points to a pullback, not a sell-off, and you can see that mirrored in the updated $SPX charts - located in the Public Charts area, at  Sorry, I hadn't had a chance to update those charts for a while, but I don't even trade the S&P. I basically just use it as a guide, to confirm, what I'm seeing in the $VIX, which is far more important, when it comes to market timing. I didn't even look at the S&P until the afternoon, and that's about the time it started to rally, off the lows. 

We did see a nice washout (to a new recent low) in the QQQ's, and that was on strong volume, so looking forward to an all but guaranteed snap-back rally, back to the top of the range! 

Alerted to this in my twitter, just a little while ago

European Rally 

Today I see it being reported that, "the Stoxx 600 is bouncing off a 2 month low". That's not the easiest thing to chart. Stockcharts no longer covers it, but I can tell you that we did not see any sort of washout in Europe yesterday.     

Does that look like a new low to you? This is why I tell people not to trust anything they see being reported by the corporate owned, "Industrial Media Complex".

$SPEU (STOXX 50) - I am able to chart this, and if you're looking for an easy trade, this is it. I'll even add this chart to the public charts area.  

Here's another trade you've probably never heard of:  

$UTSL (3X International Utilities Bull) - Simple chart 2 parallel channel lines (blue). Target $36. 


I also noticed gold miners trade into what looks like a tradable bottom. 

$GDM: alerted to yesterday - I haven't had a chance to check futures, but you may need to chase this one. 

I'm not sure if the bond rally has finished, but Bloomberg continues to draw investors in, with promises of higher inflation. It's just a powerful wave C to me, and I'm looking forward to the big reversal.   

Once you see the bond market collapse, equities will be off to the races again, so it's something to watch. There is a 3X bond bear ETF $TMV which can be found in the public charts area, and the 3X bull $TMF can be swing traded into on the reversal. 


...kind of how we use the $SOXS chart to time, the SOXL trade? 

$SOXL - a strong buy, based on the washout  on the QQQ, and the $SOXS chart below 

Hope that's all clear. Let me know if you have any questions. 

Good luck, AA 


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