So Powell did what everyone expected and raised rates by .50BP
What caused the massive short squeeze was when he said the economy is strong and he sees a soft landing for the economy.
I have said many times, don’t try and make sense of anything.
Just trade sentiment and charts!
Wasn’t it Powell and 18 “scholars” Joe hand-picked that said inflation was transitory-or Hunter Biden’s laptop was Russian disinformation?
They have no problem lying right to your face as they ask you to hold their beer.
If this “disinformation Committee” actually comes into play, how can any news outlet or politician say a single word, since 99.9% are outright lies?
Enough of that.
We have been on the right side of the trade throughout 2022 and I don’t see that changing.
Our Predictive Analytics Model just needs volatility to predict when/where the next reversal will take place.
Our buy zone was 4160/4100 and everyone had a chance to buy the dip yesterday, which your trade is +140 already.
4300 was always resistance and that was hit yesterday as well.
But I still see more room to run higher and 4370/4500 coming into play before we top.
The safest trade is to just short rallies, but we do trade both ways here.
One can start to layer out of the long trade between 4375/4500.
We still have some room/time to get there, so don’t chase! – Gary Dean
SPX Hourly Technicals
Stochastics: Overbought
Divergences: Bullish Divergences (Played Out)
Resistance Pivots: R1-4306 R2-4335 R3-4370
Support Pivots: S1-4270 S2-4240 S3-4218
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