Wow, it seems as though we went from a boring dull market, to a bearish reversal in 1 day, but reversals often take a little time to be confirmed. The lame stream media is calling yesterday's sell-off, day 3 of a market sell off, but we really didn't see much selling until normal trading resumed on Monday, Dec. 5th, just as I have been predicting it would.... Perhaps now, traders will learn not to chase low volume rallies? Probably not.
Awesome trading! Hopefully this continues into 2023
— Veteran Market Timer (@3Xtraders) December 6, 2022
The Bearish Reversal
You know how I know this is a bearish reversal? Because it's being marketed as a bear market.
Gloomberg News even went so far as to have, Turkish Economist, Nouriel - Dr. Doom - Roubini - on this morning! Not to mention the 100's of guests they lined up to repeatedly drive the bearish narrative.
For instance: How many stories did you see, featuring crooked bankers, and bearish CEOs, predicting a "bear market in 2023". Does any investor think this is all coincidental? LOL
If you believe this is all coincidence, I have several bridges in Chicago I can sell to you, at a big discount! Please, make me an offer!
In case you didn't know it:
Chicago is not just home to many of the world’s earliest skyscrapers—it’s also a city of bridges. architecture.org
It seems as though I've already digressed, but I just find the state of the rigged economy, and even society at large, beyond ridiculous. We are truly are living in an asylum.
Speaking of Crazy World:
Didn't I tell you; I knew Warnok had already won the Georgia election...? He had to win, in order to show how bad Donald Trump is! And they even had a negative story ready to go, on Election day:
SURPRISE: TRUMP HAD MILLIONS IN UNDISCLOSED DEBT WHILE PRESIDENT, AND HE PROBABLY WOULD A SECOND TIME AROUND TOO
Think this also wasn't planned? This is in your face, election interference, and I'll bet Fox (faux) News, doesn't even report it as such.
Getting back to the Market
I took a bunch of notes this morning, before I even started composing this update, and then after watching Bloomberg propaganda, I had to take even more detailed notes.... I haven't even begun to scratched the surface!
I wish I had more time, but it takes time to document, crazy world, and I have a bathroom to wallpaper this morning, and I'm actually looking forward to doing something normal for a change!
Hanging out on Twitter, charting the fake market, and watching fake news all day, isn't normal
To be honest, it's a little soon to be trying to call a bottom, and I've already called for more weakness, in certain sectors, at least.
Chart Update
This I can tell you:
1. The powers that be, managed to take Energy down to the 200 day moving average.
2. Financials look broken.
3. Canada is no longer trending up, and that could mean big trouble for drillers, and gold. More on that tomorrow!
4. The $VIX has yet to break out above the Nov. high. These were professionals...!
Technically there is some support for the broader market, at these levels, but short term charts are for breaking! Review my tweets from yesterday, and you'll see what I mean.
150 day moving average pic.twitter.com/ZSnt4FJsT9
— Veteran Market Timer (@3Xtraders) December 6, 2022
I already put out way too much valuable information, as I spent most the day charting.
Check back tomorrow, and I hope to have a hell-of-a-lot more, for you.
To be continued...
Take Care, AA
No comments:
Post a Comment