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Thursday, February 23, 2023

Market Update Thursday, 2/23/2023 - The Easiest Call of the Year

The Easiest call of the year 

This may only be late Feb. but this was the easiest call of the year, so far: 

Market pulled back to the lower end of a bullish channel. 

$VIX rallied to the top of a bearish channel. 

Super easy for anyone with an ounce of charting skills to find. 

You're homework is to find those (channel) targets, and to come up with the next target. 

Return for tomorrow's update, to compare notes 

Here's a clue: If you know where to look, I've already given you half the answer, to the above (2 part) question. 

This is your chance to learn how to chart like a pro, so get after it! 

I suggest using and I receive no compensation for recommending their platform 

Yesterday's action

Yesterday, I called for a slightly lower low, and a test of the 50 day moving average, and we got that. 

$SPX - Yesterday's Stupid Simple Target 

I can't seem to find the updated chart this morning, but that target was taken out, as I tweeted


 Stock Market Crash?

This is what was trending - on Twitter - yesterday 

That's a contrarian indicator 

Contrarian Pattern 

$SPX  - Every contrarian view, deserves a contrarian pattern, and you can bet that the market bears are still clinging to this bearish Head & Shoulders Pattern.  

Adding that chart to the #1 spot in the Public Charts Area 

There's only a couple things I'm unsure of, and I'll mention those in the next update. 

good luck, AA 

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