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!
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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