Sentiment Timing – Morning Notes 7/19/2022

Welcome to the whipsaw market.

Yesterday we saw the /es gap open some 30+ points only to close down 32 points.

This morning we wake up to the /es +29 as I type.

There are times to be aggressive on the long/short side and there are times to watch from the sidelines.

We closed our position with some really nice gains and I remain on the fence regarding the next directional move.

When I can build a solid case for both the bulls/bears, cash is the best position.

The bulls need to get the price back above 3854 to get the short-term direction back on their side.

Related:  Sentiment Timing - Morning Notes 6/21/2022

I am NOT ruling out the ABC pattern I have been showing, but as I said, I am fine either way. -Gary Dean

SPX Hourly Technicals

Stochastics: Oversold-ish

Divergences: No Divergences 

Resistance Pivots: R1-3854 R2-3874 R3-3908

Support Pivots: S1-3816 S2-3800 S3-3783

Extreme Investor Network has partnered with sentimenttiming.com to bring you stock Market Trading Advantages.

Want to know exactly when the next turn dates are weeks in advance–try our premium service for 2 weeks free (it moves to $149.99 per month once the trial ends)  Use coupon code: 2 weeks  Subscribe Now  (If you have ANY issues subscribing, please email me at [email protected] and I will fix the issue. Gary Dean -)

Related:  If You Believe This... Please Stop Reading Now

Leave a Comment