Market Review 2022-09-15

Long Term Picture 1Y/D SPY

As of now the 390 level is still holding. However today there should have been a bit more bullish action. We may loose that 390 level and go down to 370/360.

The only encouraging thing here is the bullish divergence on the MACD and the price. We will have to see who is going to be the winner. 

Market SQN

The SQN is still going up, but the volatility as well. This is not good for the market. 

Big 5 and VIX

Conclusion

So far we held 390. If we loose it 360ish is the new target

Disclosure

I have been beneficially long the shares in SPY, IWM and QQQ. I wrote this article myself and it expresses my own views and opinions. I am not receiving any compensation for this. I have no business relation ship with any company whose stock is mentioned in this article.

I am not an investment advisor or professional. This article is my personal opinion and experience and is not meant to be a recommendation of the purchase or sale of a stock or option. Investors should conduct their own research before investing to see if the companies discussed in this article fit into their portfolio parameters.