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Misc Stock Market

Everything extended to the downside…if the charts were inverted we would be looking at a parabolic near vertical move. I expect a tag of the 20dema soon for both.

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Melting face tomorrow boys
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Yeah, I’d assume CPI coming in less than last month’s print should send stocks higher tomorrow. But I didn’t feel confident enough in that to buy any calls on that prediction. ?‍♂️
 
No way this loses the weekly MA100 without a serious dead cat bounce. SPY 390-393 is an area I’ve been watching for some time now.A724A028-BA3A-427A-A0EE-491785B56CA6.png
 
I think we get a violent move up from this area. I’m pretty bullish from here. Would love some capitulation at the open to buy into. This is it boys. This is financial advice. ? ?
 
Why we pumping right now?
Because nothing goes in a straight line. Been a lot of selling lately. News really doesn't drive the general market, unless something material happens like a terrorist attack, a surprise new direction by the Fed, etc. Stuff like CPI data, jobs numbers, earnings sentiment is used to "explain" market moves, but the fact of the matter is, we're way overdue for a bounce, based on almost any metric you want to use.

The narrative has been that if CPI came in hot, which it did, we would sell off, which we didn't. My guess is that if we have a few moderate up days or even just sort of neutral for a while, we'll go lower. If we start to see a big rally that spans a couple of days, then we may have put in a bottom for a while.
 
$LUNAUSD dropped from $100 to 50 cents in a few days. Now it bounced 800% in an hour. And we wonder why people love crypto.

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