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Monday, January 9, 2023

Market Update Monday, Jan. 9th , 2022 - Market Remains In A Holding Pattern

 Looking at the calendar 

Looks like the market is going to remain in a holding pattern, until the next Algorithmic Trading program, triggering, catalyst, which would be Thursday's CPI number, just ahead of Friday the 13th, and another Market Holiday - MLK Day, which just happens to be the week of Jan Options Expiration. The week after OPEX, we got the kickoff of the Chinese New Year, which is also significant, considering how Chinese Stocks have been driven to the moon - no pun intended. 

I think it may be too soon to try to predict what's going to happen on Thursday, but I'll be watching for a gap fill on the $VIX that was left behind back in early Nov., and if the $VIX continues to take out lower lows, the bears may find themselves trapped all the way into the Spring.   

Looking at the Fake News        

Morgan Stanley bear Michael Wilson predicts that the $SPX will recover to the 3900 level, or more accurately stated, he believes the $SPX should be sold there. 

Bear Market Will Get Worse, Invest For 2024 Says Astrologers Fund


Weingarten agrees with Michael Wilson of Morgan StanleyMS +1.9% that the S&P 500 Index will probably fall to 3,000. However, Wilson predicts the market will recover back to 3,900 by the fourth quarter next year. 


Morgan Stanley (Michael Wilson) Warns US Stocks Risk 22% Slump 

gloomberg news

So, pretty-much everyone of these technical analysts are going with the same (above) prediction, including the ones you constantly see paraded on CNBC.  

I, on the other-hand, am reserving any future bearish predictions, until I see a bearish trend reversal.

I'm also inclined to believe most these technical analysts who are being promoted by the financial lame stream media, haven't a clue; when I see them continue to beat a dead horse.

 I covered this in 2022, when they claimed the market would continue to correct to $SPX3000, on a low $VIX (below 30), and an I'll continue to call that a BS prediction, based only on wishful thinking.    

More Fake News

Today is a big fake news day, as 400 mostly peaceful protesters in Brazil are rounded up, and condemned by the globalist cabal. Every time you see US generals come on the lame stream media to throw around the term "democracy", you know they are actually selling tyranny. This looks like the same psyop the fascist's in the US pulled, when setting up the protesters on Jan. 6th, and the left calling the right "Nazis", while at the same time claiming to be ANTIFA (anti-fascist). Look, we all know who the real fascists, by who controls the narrative, while at the same time attempting to limit free speech!   

Biden condemns ‘assault on democracy’ in Brazil as Democrats compare riots to January 6

Who's a fascist? For Biden, Dems, it sure beats talking about inflation, and crime...

Brazil is the largest country in South America, so it's strategically important. 

Let's see what the charts say about what's going on in Brazil 

$BVSP - Brazil Bovespa - Pretty much look like it's trading in lockstep with the global markets, and the US. It's kind of consolidating sideways, in an unpredictable fashion, although longer term this looks more bearish to me than US markets. 

Also in the Engineered headlines is the Geoengineered west coast flood event, aka the latest bomb cyclone/ atmospheric river Story 

After engineering a west coast mega drought for over 10 years, I guess the weather makers decided it was finally time to fill the rivers and reservoirs. 

As usual Dane Wiginton offers the greatest insight into this event  

Cued up...  

And Finally This Fake Story 


Speaker Drama Raises New Fears on Debt Limit


Look, the MSM always raises "fears" about what could happen if the runaway spending doesn't continue, yet somehow they always manage to increase the debt limit. 

Expect runaway spending to continue 

Take Care, AA 


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