Market Review 2022-09-18 - Weekend

Long Term Picture 3Y/W SPY

On the long term we are clearly in a down trend. The 50% line clearly has not much of meaning.

Long Term Picture 1Y/D SPY

Medium Term Picture 6M/D SPY

We lost the 390 level on Friday. We gapped down and closed higher. This is encouraging. For me it looks like the bullish divergence may not pan out here. Tomorrow we will see if  the downward trend continues.

Market SQN

The market SQN number goes down towards the strong bear area. Market volatilities goes up. This does favor a further down move.

Big 5 and VIX

Except for IWM and EEM we lost the support levels.

A positive sign, is that the VIX went down during the day. 

Conclusion

Market participants had a lot of opportunities to take the market down even further on Friday and that did not happen.

The Week Ahead

On Wednesday the Feds decide on the interest rates. Until then not a lot of things may happen

The CME has a CME FedWatch Tool

It shows the expectation for interest rates changes. For the next meeting 9/21 it looks like this:

Other events for the week can be found Briefing.com

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.