Page menu

Monday, January 31, 2022

Market Update Jan. 31, 2022 - Awesome Trading Environment

Wow, I had trouble getting the computer to boot up this morning. Maybe is didn't shut down properly, on Friday? It's about time for a new computer build, but not until GPU prices come way down, and a crash in the chip space isn't expected, at least, until the second half of '22.     

Speaking of crashes, Energy, and specifically Brent Crude Oil is finally taking out my upside target, and Natural Gas continues to snapback, to lower recent highs (bearish). I thought I was short Natgas on Friday, but apparently I got lucky, when the sell order didn't fill (on Thursday). 

$UNG - if it opens above my pink line, it will be setting up for the same sort of bear trap we saw in late November. Looks like a gap fill target, from the same period. Treacherous trading 

NatGas - Key resistance on Natural Gas becomes the 2018 high (around 4.95) again 

Wrapping up last week's broader market action; the market continued to build a base, as expected - when I told you that most the damage had been done, but that we were "not quite out of the woods yet". 

We saw a little short squeeze going into Friday's close. That was also predicted, Friday, before the open, and confirmed in the afternoon.  

$SPX - it doesn't get any more precise than this; ...called in real time!   

I see people in my twitter timeline - I won't name names - calling the recent action unrecognizably "whippy", but it all looks very familiar to me! In fact this is perfectly natural to see whippy bottoming action, at these $VIX levels. 

I also see the dishonest lame stream media - namely Bloomberg - trying to spin the recent weakness into something it's not.  

Looks like another bad case of mass media induced, mass hysteria, and it's proved by the fact that the short term charts aren't even been broken, as they were in 2020. 

We're still not exactly off to the races yet, but give it a little more time. 

Prediction: Rally into Valentines Day 

Have a great week, AA 


No comments:

Post a Comment