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Futures have been all over the place after taking a nosedive on the heals of the disastrous NFLX earnings.
The /es was -20 at the lows and are now +15 as I type.
I have said a plethora of times, don’t try and make sense of anything, your head will explode.
Just go into trades knowing you have one of the best market timing methods at your disposal.
Our Predictive Analytics Model uses all of the instruments the big boys use and honestly, many of them just use ours.
Time-Sentiment and Technicals will always prevail in the end, even if the price moves the other way for a few days/weeks.
When too many peeps are trading in the same direction (sentiment) the destiny of the next direction is the opposite side of that trade.
If you try and put logic into trading this market, you WILL get caught running with the “Herd” right off the cliff.
So we have been short into last week and made another nice trade.
I have been yelling from the rooftops, not to be complacent on the short side since last week.
Even with a brainless administration who has yet to make a single correct decision (appeal mask mandate ruling???) blaming everybody/everything, but the grandpa in the mirror, for exploding inflation.
You must not pay attention, because the ones who are controlling market price movement know exactly what you are thinking, and they WILL USE IT AGAINST YOU and ignite these “face-ripping short squeezes” until every bear is gone and then we will see gravity take over and we head back down again.
Just pay attention to the time periods Woody puts out, investor sentiment, and support/resistance-buy/sell signals, and you can make money every month because these cycles repeat every month.
I would prefer to wait and see some type of pullback to buy the dip.
4435/4400 would be ideal support levels to start building a long position.
But using history as our guide, the master planners rarely take their foot off the overly complacent bear’s head, as it is submerged underwater.
So seeing another big day would NOT be that surprising, If they just continue higher without a breather, we wait for every bear to panic cover and go short.
If we do see 4520-ish come into play and one feels the need to trade, that pivot should have sellers waiting. -Gary Dean
SPX Hourly Technicals
Divergences: Bullish Divergences (Playing Out)
Resistance Pivots: R1-4486 R2-4500 R3-4521
Support Pivots: S1-4470 S2-4451 S3-4440
Want to know exactly when the next turn dates are weeks in advance–try our premium service for 2 weeks free (it moves to $149.99 per month once the trial ends) Use coupon code: 2 weeks Subscribe Now (If you have ANY issues subscribing, please email me at [email protected] and I will fix the issue. Gary Dean -)