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Tuesday, May 24, 2022

Market Update 5/24/22 - Market Futures Blood Red As Predicted

 Futures Blood Red As Predicted

 Looks like this on a 15 min. view of the S&P E-mini Futures chart - or "ES1": 

I predicted this move to the downside - on our private twitter @3XTradersLive - just ahead of yesterday's close.

 How did I do it?  

 1. When I reviewed the $VIX charts, I could tell that the $VIX sellers lacked conviction. 

2.  I didn't like where the $VIX was sold yesterday. It was an obvious take down, probably by some fast money traders. 

That's about all I can say about that, without giving away some valuable trade secrets, but I can tell you that this mornings sell-off has nothing to do with $SNAP being down another 25%. 

Join @XTradersLive now, for the low price of $49, and get daily updates, and great calls like this for an entire month! 

Tech continues to suck

I've been bearish on tech since Dec., when CNBC was still clinging to their bullish narrative  

This was back when everyone was bullish tech, just as you see traders bullish on Energy today, and that's a sector I continue to watch closely. 

Energy looks like the next sector to be pumped n dump 

$XOM and several other high fliers continued to press the recent highs again yesterday. 

$MCP trades into an ending diagonal triangle top - one of the most bearish chart patterns of all.  


 $XOM is another one we've been watching, as the pump n dump crews rush to take out the $98 target. Make that an even $100, knowing how these lunatics operate..! 

I suppose the crooked banks have bought Calls all the way out until the 4th of July, so there's your time line. 

Of Course Oil and Gas should continue to lead, but the charts are confusing. 

$Oil has traded into an unknown triangle pattern, but looks like it's about to resolve. 

This is only a 10 min. chart,and I'm not expecting any big moves... 


NatGas acts like it wants to trade to $9, and a retest of the recent highs certainly isn't out of the question, as traders continue to cover their short bets ahead of the Memorial Day holiday. Maybe even 9.40 by the end of the month, when contracts expire. 

There is the remote chance we could see a Hindenburg omen type event. That happens when you have one sector making new highs, while the rest of the market is making new lows, and this ends with a sudden re-balancing. It's not a common occurrence, or something you can predict. 

That's all I got, and the opening bell rings in 15 min. 

Take Care, AA 


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