Sentiment Timing – Morning Notes 4/28/2022

Futures are flying higher this morning, which comes as no surprise.

We have been suggesting buying between 4200/4100 after shorting at the exact top last week.

If you are not trading this market, you will find yourself seeing great gains turn into losses or break-even trades.

Don’t try and make sense of these moves, just remove your brain and make the trades.

If you try and justify or rationalize a directional move, your head will blow up!

Sentiment-Time-Technicals are all you need to make great money in this market!

So Joe & Co. have accomplished something nobody has ever done before.

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Taking GDP from 6.7% (because people went back to work) to -1.4% GDP.

That is the largest GDP swing in history!

But I am sure that Putin will get the blame for this or they inherited this mess.

This is the most incompetent administration in history and as I have been saying, Joe’s approval numbers will cross below inflation numbers.

I just didn’t expect that to happen this quickly.

That is why we have to be bearish long-term as bad policy after bad policy is put into place.

But we will get face-ripping rallies along the way, which is why I like buying dips here.

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For today, the bulls need to get the price above 4239 to see upside momentum pick up.

If the bulls can get above yesterday’s highs, we should see a reaction trade up to 4300, where taking some long profits is NOT a bad idea.

If we head lower after the opening bell, I would still be looking to buy between 4200/4100.

A nice bounce is pending! 

SPX Hourly Technicals
Stochastics: Neutral
Divergences: Bullish Divergences 
Resistance Pivots: R1-4239 R2-4255 R3-4290
Support Pivots: S1-4175 S2-4160 S3-4140

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