TG Watkins Since I recorded this a day before the Consumer Price Index (CPI) report, let’s see how things unfolded from where they were before. The market looks heavy and it would make sense to keep dropping. The only thing that would get it to pop is a surprise CPI, and then we don’t even know if … Read more
The stock market closed last week at the June lows and at a very critical spot with the pullback Friday. Can it hold for now and move to a bear flag to the upside for a while? Or will the market fall apart from here? In case the market moves to some strength, there are … Read more
It looks like the market developed an undercut and rally with the SPDR S&P 500 ETF Trust (SPY) midweek, and that would also be defined as a “bear trap” since we closed on the lows Friday then reversed on Monday. Some indications that there could be more upside with the market comes from the Volatility … Read more
Another wrinkle in the chaotic market is word of an emergency Fed meeting today on October 3rd. We don’t yet know what it is about or what the market reaction will be, but we also know the market is very oversold. The kindling is there for a short squeeze. We could see SPY head toward … Read more
So the Bank of England decided to start up its bond buying program, which is why Wednesday was a stronger day. Will this help? If so, how long? Or will this be throwing fuel on the inflation fire? Only time will tell, but we do know that the stock market indexes were working off their … Read more
This market has been in a downward decline for weeks that started with the Jackson Hole, Wyo., Federal Reserve Symposium, negative U.S. Consumer Price Index (CPI) numbers, Federal Open Market Committee (FOMC) raising interest rates, and Federal Reserve Chairman Jerome Powell talking tough. The bears have been winning and basking in the glory. But as … Read more
The Federal Open Market Committee (FOMC) followed through with plans to raise federal funds interest rates by 75 basis points, and the market didn’t like it. After a few wild moves in both directions on Wednesday after the announcement, the downside was chosen and the market ended on the lows. I think it is clear … Read more
This month, it is notable that the monthly squeeze histogram in the S&P 500 (SPY) has moved negative. In addition to that, the SPY has broken two trend lines and a price support area. The trend continues to the downside, and it’s just a matter of what path the SPY will take on its way … Read more
After one of the biggest down days on Tuesday, the market has since held and flagged for the day. Zero follow through to the downside so far. Will Thursday continue down or will there be a surprise upside move? I mention this because the put/call ratio is super high and the SPDR S&P 500 ETF … Read more
The move up in the market last week made sense and I was communicating to the Moxie Indicator™ Mastery subscribers that I wanted to see higher prices in order to short into the pattern. This was because much of the market got very oversold after about a three-week plunge. So we got the bounce, but … Read more