Sentiment Timing – Morning Notes 7/15/2022

The /es is +8 as I type and the bulls are not giving up without a fight.

We have made a series of lower highs and lower lows, so the bears are in control of the short-term direction.

I am on the fence as far as which way we will move in the coming days/weeks.

The bulls can’t break through resistance and the bears can’t break through support.

The technicals are neutral and there are no buy/sell signals.

So I have no problem watching from the sidelines for now.

Sometimes cash is the best position. -Gary Dean

SPX Hourly Technicals

Stochastics: Neutral

Divergences: No Divergences 

Related:  Sentiment Timing - Morning Notes 7/1/2022

Resistance Pivots: R1-3820 R2-3830 R3-3850

Support Pivots: S1-3770 S2-3750 S3-3728

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