Sentiment Timing – Morning Notes 7/12/2022

Morning Notes 07/12/22-Gary Dean

GM Everyone, Futures are adding to yesterday’s losses and are -16 as I type.

I am seeing the rate of change on the downside starting to slow down, so maybe we do see the bulls step in near the 3810 support.

I have my stop at 3820 and I am moving it to 3790.

It is still a 150-point gain if stopped and gives the trade a little wiggle room.

I am expecting to see some choppy tape this week, as the bulls/bears battle for trend rights.

Longer-term, nothing has changed!

This administration will do everything in its power to destroy our economy and build back Worse!

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Things are going to get much worse before they get better.

And my prediction of old man joes approval rating dipping below inflation-well he is at 32% approval and real inflation is closer to 18%–so this may cross well before my time period I thought it would happen. G-

SPX Hourly Technicals
Stochastics: Oversold-ish

Divergences: No Divergences

Resistance Pivots: R1-3878 R2-3900 R3-3915

Support Pivots: S1-3830 S2-3803 S3-3787

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