75 replies to this topic

[redfoliage2]

So we got the lower low today, but it's likely that this dip may get bought as breadth holding up well today ............................

[redfoliage2]

SPX 200 dma at 3940 may be tested tomorrow..........................

Edited by redfoliage2, 01 March 2023 - 03:20 PM.

[redfoliage2]

SPX 200 dma at 3940 may be tested tomorrow..........................

It was tested this morning though, so maybe that's it for the test.   Let's see.  ST the market is in oversold conditions ......................

Edited by redfoliage2, 01 March 2023 - 03:53 PM.

[redfoliage2]

It looks a bounce is in the cards for tomorrow........................  

Edited by redfoliage2, 01 March 2023 - 04:37 PM.

[redfoliage2]

The market has become very unstable as it finally admitted it had to price in for higher rate.  All technical supports now mean nothing when the money is rushing to safe havens.................. 

Edited by redfoliage2, 02 March 2023 - 08:38 AM.

[redfoliage2]

The spike in US 10 yr yield is likely an overreaction to the European CPI released in the early morning today.  Inflation profile is not the same between US and Eur zone where prices have been more affected by the ongoing R-U war.  US CPI won't be out in about two weeks.  So I see this dip will be bought soon  .......................... 

Edited by redfoliage2, 02 March 2023 - 12:17 PM.

[redfoliage2]

 

The spike in US 10 yr yield is likely an overreaction to the European CPI released in the early morning today.  Inflation profile is not the same between US and Eur zone where prices have been more affected by the ongoing R-U war.  US CPI won't be out in about two weeks.  So I see this dip will be bought soon  .......................... 

 

So we witnessed this intra-day reversal 80 min after I posted this call ..............................

Edited by redfoliage2, 02 March 2023 - 02:37 PM.

[redfoliage2]

 

 

The spike in US 10 yr yield is likely an overreaction to the European CPI released in the early morning today.  Inflation profile is not the same between US and Eur zone where prices have been more affected by the ongoing R-U war.  US CPI won't be out in about two weeks.  So I see this dip will be bought soon  .......................... 

 

So we witnessed this intra-day reversal 80 min after I posted this call ..............................

 

Likely a coincidence 

[redfoliage2]

I'm calling a bottom today - SPX made a 50 point intra-day reversal from the low in a day when bond yield was skyrocketing, and successfully defended the key pivot.  I see it marks a swing bottom.  BTW, 10 yr bond yield today is likely at a top at least for a while  ............................. 

Edited by redfoliage2, 02 March 2023 - 04:27 PM.

[redfoliage2]

Today we need to watch for hawkish words from some FOMC voting members:  Lorie Logan at 11 am and Michelle Bowman 3 pm.  If they sound hawkish market may have a negative reaction  ................................

Edited by redfoliage2, 03 March 2023 - 10:40 AM.