On my last post, I recommended a short position
on the S+P 500 with a break of 3590, as the trigger point.
This mornings sharp gap down OPEN on the SPX
on stronger than expected CPI of .04 % for Sept.,
sent the S+P 500 down to 3491 Low, an almost 100 point "short trade "gain !
The subsequent sharp upside reversal from that low to a 3662 high
was the "anticipated "upside surprise" in the market that I suggested to you was coming.
Short term traders should continue to use S+P 3590 SUPPORT,
as the "mean point " to enter the market
from the long or the short side.
Volatility is high.
Expect large point moves, in either direction !
THE_UNWIND
10/13/22
Woods Of Connecticut
on the S+P 500 with a break of 3590, as the trigger point.
This mornings sharp gap down OPEN on the SPX
on stronger than expected CPI of .04 % for Sept.,
sent the S+P 500 down to 3491 Low, an almost 100 point "short trade "gain !
The subsequent sharp upside reversal from that low to a 3662 high
was the "anticipated "upside surprise" in the market that I suggested to you was coming.
Short term traders should continue to use S+P 3590 SUPPORT,
as the "mean point " to enter the market
from the long or the short side.
Volatility is high.
Expect large point moves, in either direction !
THE_UNWIND
10/13/22
Woods Of Connecticut