Looking at yesterday's sell-off - great trading continues!
Some folks look at trading days like we saw yesterday, as "a blood bath", but that's the same hype you always see after a little pullback.
The #StockMarket sells off for 1 day, and people lose their shit lol
— Veteran Market Timer (@3Xtraders) March 10, 2023
Looking back at yesterday's open
$SOX - Semiconductors actually traded to a new recent high, before they pulled the rip cord, and that was probably the most interesting thing to watch - in real time - was that pump 'n' dump. #semiconductors retest the recent highs. Not a fan of the $SOX pic.twitter.com/6QB3z7pVWs
— Veteran Market Timer (@3Xtraders) March 9, 2023
#semiconductors retest the recent highs. Not a fan of the $SOX pic.twitter.com/6QB3z7pVWs
— Veteran Market Timer (@3Xtraders) March 9, 2023We also saw the NASDAQ futures turn positive this morning, after testing the 200 day moving average.
The Setup
Wed. Evening -The timing on this sell off could not have been timed any more perfectly, as I realized the Fast Money crew was on the same page as I was; when they sent Black dude out to do their dirty work - to rally the $VIX. I call him "black dude", not because I'm racist, but because the liberals at CNBC think it's their job to promote what they like to refer to as "equity". Liberals have a lot of white guilt, after the way they have used colored people over the past 100 years, and I'll leave it at that.
I know who's driving the $VIX, and they aren't the sharpest tools in the shed. Takes more than that to make a market correct. Takes real fear.
— Veteran Market Timer (@3Xtraders) March 9, 2023
Of course CNBC wants you to pay to watch the video, from Wednesday nights show, but I watched enough to know what they were up to... and it was the $VIX setup that really galvanized things for me.
It was all about the $VIX, as I tweeted Wednesday evening, as I've been blogging for weeks prior....
The $VIX is being sold short, as usual. Seems the market Bulls have overplayed their hand again.
— Veteran Market Timer (@3Xtraders) March 8, 2023
Funny, I was just recently blogging on how we could not longer trust the $VIX, but yesterday it worked like charm. That's a good thing!
Here I am yesterday rooting for Volmageddon 2.0
$VIX spiking 👏👏👏 #Volmageddon2.0 ?
— Veteran Market Timer (@3Xtraders) March 9, 2023
As I blogged Wednesday, I refuse to publishing $VIX targets... and the manipulators don't need any help from me. Let them figure it out for themselves, and maybe I'll review it once the smoke clears.
The Fake Financial News
I saw very little reporting on the banks, as the Regional Banks ($KRX) have been quietly selling off for the past 3 weeks, but I suppose they don't want another banking disaster on Joe Biden's watch. Crashing the banking sector doesn't fit their narrative. They'll save that for Donald Trump if he somehow manages to get re elected. That could actually be the catalyst for the next big crash, which I don't think will take place until 2025. Timing more than a year out, is a fools errand, but that's what I'm seeing on the my long term charts, and since the deep state has control of the white house, it's going to be business as usual. The Fed will even pivot, and start buying treasuries again, if it becomes necessary.
$KRX - sells off for 3 weeks, before any news is reported
1. We're seeing the target I pointed out in yesterday's blog - being tested - and even the NASDAQ is clinging to the 200 day moving average.
2. We also saw the $SPX take out the 200 day moving average, which I've also been predicting.
That was in my Update dated March 1st A Bold Call on the $SPX
Everybody hates an, "I told you so", but I told you that there were some big trading opportunities coming, and seeing believing.
I got plenty of charting to get caught up on this morning, as certain short term chart views broke, as the selling accelerated, yesterday afternoon.
Saw a little selling acceleration after all. Market close in 30 min. Could see some short covering... $SPX
— Veteran Market Timer (@3Xtraders) March 9, 2023
Have a great weekend.
AA
The $VIX didn't take off
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