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Natural Gas/UNG – March 20, 2023
Posted on March 20, 2023 2 Comments
Last post on Natural Gas: https://atomic-temporary-44460632.wpcomstaging.com/2023/02/24/natural-gas-part-ii-february-24-2023/ Last post on UNG: https://atomic-temporary-44460632.wpcomstaging.com/2023/03/13/ung-march-13-2023-update/ I am using UNG as a proxy for Natural Gas futures. Here’s the picture on Nat Gas (hourly) continuous futures: As you can see, we are about to hit or have hit some very important support. An ABCD, 1.27 extension and the .786. We […]
S&P 500 Index – March 15, 2023
Posted on March 15, 2023 Leave a Comment
Perspective … we made a higher low today. Let’ that sink in … Now, my stance is to remain bearish and I do believe we are in the very early stages of a smashing wave 3 and, add fuel to the fire, it’s a “3rd of a 3rd” wave down. Wonderful … Near term, the […]
S&P 500 (cash) – March 14, 2023
Posted on March 14, 2023 1 Comment
As expected we are rallying after completing 5 waves. If you take a peak at the (2) around 4077 that is the beginning of the wave that we are retracing. Take note, we could go all the way up to that level and still fail and the count would be valid. Also, take note that […]
Banks – March 13, 2023 (updated)
Posted on March 13, 2023 3 Comments
Last post on the Banks: https://atomic-temporary-44460632.wpcomstaging.com/2023/03/09/banking-index-march-09-2023-update/ So here’s the deal folks, I had NO IDEA that there was a banking crisis brewing when I put the GART SELL on the banks – it’s just a pattern. And, guess what, I’m trying NOT to pay attention to the ongoing machinations of the Federal Reserve, or some […]
UNG – March 13, 2023 (update)
Posted on March 13, 2023 Leave a Comment
Last post on Natural Gas: https://atomic-temporary-44460632.wpcomstaging.com/2023/02/24/natural-gas-part-ii-february-24-2023/ That gap down was a bummer … but, we have found support and bounced nicely. As you can see above, any move higher will run into the wall of China above (big gap) and probably fail the first or second time. But, obviously, we want it to close up […]
S&P 500 E-mini – March 13, 2023
Posted on March 13, 2023 Leave a Comment
The support/rally that was found today by the market was “expected” as we could see 5 waves down. Now the BIG question is was the high today the end of the wave 2 or do we rally once more. I would like to see another rally so we can PROJECT the upcoming POTENTIAL inflection point. […]
S&P 500 – March 12,2023
Posted on March 12, 2023 2 Comments
Expect a rally the next couple days …perhaps a slight gap down but eventually support and then a rally should occur. Futures tonight are already providing that “commentary” so I’d expect a larger than “normal” rally due to the world is coming unglued (it is) but you know what I’m saying … “everyone” expected a […]
Goldman Sachs – March 11, 2023
Posted on March 11, 2023 Leave a Comment
Very important support comes in for GS a little lower in/around the 320’s and then 300’s. We lose those levels then expect GS to breathe down to a VERY NICE BUY PATTERN from 243-247. That buy PATTERN is a classic. ABCD, .618 retrace, 1.27 extension and then the “crossover” structure .. dare I say, it’s […]
S&P 500 – March 09, 2023
Posted on March 9, 2023 3 Comments
I try to make it clear on the chart below that I just “don’t have a clue” if the ATH on the S&P 500 is THE HIGH or A HIGH … I don’t have the data and, frankly, I’ve seen very amazing professionals say it is THE HIGH and also say A HIGH. Both, totally […]
Banking Index – March 09, 2023 (UPDATE)
Posted on March 9, 2023 1 Comment
Last post on the Banking Index: https://atomic-temporary-44460632.wpcomstaging.com/2023/01/31/banking-index-january-31-2023/ Here is the Banking Index PATTERN that we needed to watch and monitor. Folks, banks are everything. PERIOD. They lead us UP and they lead us DOWN. Something isn’t right at the circle K. All things being equal, the wave that started today needs to finish 5 waves […]
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