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Thursday, September 16, 2021

Market Update Part 2 - the trade

Be sure to check out Part 1 of today's update, "Uh Oh, Looks Like I Was Right About WWIII!"

I really didn't expect much movement today, but since completing part 1 of today's update we've seen the $SPX slide all the way back to support - giving back practically all of yesterday's gains. But as long as we don't start seeing lower lows, this looks like a bullish pullback, at least going into tomorrow - OPEX Friday. and probably into the beginning of next week.  

$SPX 15 min. Chart: - pulls back to my green-line. 

The $VIX remains contained (below 20). See my take on the $VIX in yesterday's blog. 

So no change from yesterday, except that we're seeing a washout in metals, and what looks like a reversal in Natural Gas, and Oil. I tweeted that I wasn't going to add to my NatGas short, unless it hit $6, but after what I was seeing in the charts - in yesterday's blog - and seeing KOLD down another 10% at yesterday's open, I couldn't resist...! So, take into account that my perspective may be a little skewed, at this point, because I'm a little over-leveraged on the short side of that trade. 

Natural Gas: Be sure to check out the charts in yesterday's blog, if you're trading NatGas. 

I watching NatGas at yesterday's open, and spotted yesterday's reversal in real time. Moments later told traders to "smash it". I also warned folks to stay away from Oil, and Uranium. 


Think the powers that be won't use tax payer money to crush the commodities market, just so that they can keep lending governments money? The Fed, is a corrupt group of racketeers.   

 $DBC looks like a broadening top pattern, and the fake news has convinced everyone that commodities are going higher. 

One more thing on the commodities front. 

NatGas - bearish candlestick analysis. I don't rely to heavily on candlestick analysis, unless I'm picking tops or bottoms, and NatGas did take out yesterday's target - to confirm. 

Top 3 candles - including today's live one. Bearish shooting star. 2. Doji or hanging man (reversal candle). 3. Bearish engulfing, 

I hadn't planned to get so deeply into commodities this morning, but it just turned out that way.

What I did intend on pointing out, is that high beta continues to be bought at the 50 day moving average. This is holding markets up, and as long as the high flyers are held up, the controllers know, they have nothing to worry about, especially trading into OPEX, on a holiday.  

High Beta: 

And peaking of high flyers: 

The other thing I noticed, was the QQQ's rallying off support, at my pink line. Confirms that they are using ETF's to drive the market. 

$QQQ - holding above st support 

Today's trade may seem a little insignificant, after reading what I have to say in part one, but maybe WWIII doesn't start immediately, and maybe it can be contained to Australia, or Europe, at least. The Chinese know that as soon as they launch a strike on the US, we will launch a full retaliatory strike on Beijing, and that would be the end of China. 

Good Luck, and have a great weekend, if I don't see you again. 



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