Market Review 2022-12-07

Long Term Picture 3Y/W

We are moving back into the channel. This is not a good sign. We will see how that continues.

SPY 1y/d and SQN

We are still hanging out in the neutral zone. and the support level of 390is is still holding. The inverted hammer looks good, but  I am not sure this will hold up.

The Big 5 And The Vix

The interesting thing is, EEM is looking as the best performing. It is still a higher high. SPY/DIA/QQQ is at support IWM is already heading down. With the market action it is understandable that the VIX is back on the way up.

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.