UPDATE, Oct 12
A quick update before the market makes a decision.
CPI comes out an hour before open. i do not expect good numbers, but we should soon find out. there are bearish divergences forming on the lower time frames (2 hr, 1 hr, 1/2 hr), as the market has run up overnight. i expect a pullback. What happens at the pullback is key.
bearish MACD divergences
I still expect a larger pullback towards NQ 13800 or QQQ 330, but the market moves how the market moves, and this market may want to move up. Yellin is filling the treasury chest (backdoor QE, money printer go brrr, that's why the rally, they added 275 billion to the treasury in one day! that's taxpayer money! Criminals!)
this is inflationary (what yellin wants, and why the democrats and uniparty are dying to spend, they WANT inflation), but it lifts the markets (and has for 20 years).
Anyways, let's look at the markets.
bearish divergences forming, lower volumes as price rises. I expect a sell down towards 361. if 361 holds that's bullish, should it fail, then we look for 351 to hold. If 351 fails, then it's down down down towards 330 it could stop before then, but we will see.
I still like Oil, Uranium, NatGas, Coal, (energy😆). Precious Metals, and miners, but still not yet. I own them and have no problem buying more. I just think a commodities drop is happening before the rip up.
as i said a quick update. The important stuff.
watch around the 14900 range for support. if it holds, we could head towards 382 and possible all time highs. IF it fails the 351 must hold.
Let's look at 2 random NatGas tickers from my portfolio. I want to look at the charts 😉
It looks like more downside, but
Winter is Coming!
let's see where we go. that's a decent base of buyers. Notice the highlighted purple triangle? we have entered the tip (circled). we could have a massive slingshot up from this. Triangles break, but which way????? personally I would like to see another drop and rocket, but I'll take straight rocket 🚀 🤣😋
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
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intuitive Jackal_354 : my opinion, the market does what it wants, it doesn't listen to the fed and the fed already said it would raise rates again so no surprise there