Market Review 2022-09-25 (Weekend)

Long Term Picture 3Y/W SPY

On the long term we are clearly in a down trend. We are now at the lower level of the band. I would like to see a bounce here, but it really does not matter what I would like. My target is still 360ish. 

Long Term Picture 1Y/D SPY

This W no longer has any meanings. I deleted it. From the high on 9/12 till 9/13 low this is a drop of 11.76% or $48.44.The bullish divergence in the MACD is still in play.

Medium Term Picture 6M/D SPY

Market SQN

We have not moved into the strong bear area yet. We will if we indeed close at 360ish. What is interesting : we are in the same price vicinity of 6/16 and the volatility number is less.

Big 5 and VIX

All of the big 5 have broken the support level, some more, some less. For being that low, the VIX should have closed above the down trending support line.

Conclusion

I guess you can see I am a perma bull. That does not mean I don't see downtrends.

The Week Ahead

The CME has a CME FedWatch Tool

It shows the expectation for interest rates changes. On Friday night they must have had a data glitch. It looked very different from what it looks now.

Other events for the week can be found at  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.