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Tuesday, September 13, 2022

Market Update 9/13/22 - 5 Reasons Why Today's Sell-off Is Either Bullish, or Bearish

 I figured I'd do a quick update, since we've seen quite a pullback this morning. 

 The $VIX was bought at the 50 day moving average, so this selling seems to have been planned, ahead of time. 

$VIX  1. bought at the 50 day ma. 2. Sold at the top of the range - in black. 

The $SPX was also taken down at the 50 day ma. Really an armature looking shakeout, if you ask me. 

That's all market bullish, and especially so, with OPEX Friday, only a few days a away! 

2. It's also Bullish because money needs to be put to work, as Money managers return from their summer break, and you can bet these are some of the same people shorting the market this morning. 

3. Gap Fills are bullish targets. The only sector I'm watching that hasn't filled the gaps left behind over the past several days, are in the Energy sector. 

Russell 2000 offers a good example of gaps being fill, as well as the gap left behind this morning 

4. The trend remains very much higher 

$SPX - 30 min. view 

5. Is the timing with Sept. OPEX Friday just around the corner! 

Easy bullish call 

Don't fight the trend, friend. 

Good Luck, AA 

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