Sentiment Timing – Morning Notes 4/14/2022

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Futures are down marginally as the expected backing and filling looks to be starting.

There really isn’t much more to add than what I have gone over already.

Long term view is bearish.

The intermediate-term will change in a bear market, which allows us to TRADE both ways.

Anybody who is only looking in one direction will find themselves on a seesaw with their portfolio going from nice gains to even/down.

As I have mentioned, I am on the side of buying dips, but that will come with risks.

We have an incompetent administration who has made every wrong economic decision in history!

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But we have to put that aside and trade what is in front of us.

That is more of a long-term worry in my view.

The risk in the short term, they make another stupid self-imposed mistake when we are sleeping and the markets open down 3%.

We need to see the bulls get the price above 4460 and then use it as resistance.

That would be our “let’s get long” signal.

Until then, I have no problem watching for now.

If looking to bottom fish, anywhere between 4430/4400 would be the area to start layering in long positions.

I am waiting for confirmation before jumping long. -Gary Dean 

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SPX Hourly Technicals

Stochastics: Overbought-ish

Divergences: Bullish Divergences 

Resistance Pivots: R1-4460 R2-4470 R3-4480

Support Pivots: S1-4430 S2-4415 S3-4400

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