The Last Leg Down in this Correction

I'm sure everyone has seen this same trend line and same bear flag.

We tested it on Tuesday and we have begun breaking down.

This is a correction. Not a crash. Not 2008. Not 2000. Just a correction for now.

We will get a crash if the Credit Markets start collapsing and we don't have liquidity. We are not there.

2023 will be a shtshow. We will have a real crash next year sometime. For now we don't have any stresses in our Credit Markets.

Comment:

So January of 2023, US Bureau of Labor Statistics decided to change how they are going to calculate inflation. They didn't release all the details but they are going to average it over 1 year instead of 2 years. This will make future inflation numbers far lower because we are comparing them to higher targets (smaller YoY Difference causing inflation to seem to drop).

Bulls are pouncing on this news and potentially going to break higher above resistance. It all comes down to the FED meeting at the end of January.

Lower inflation numbers will continue to hide real inflation. Expect all assets... food.... oil.... gas.... stocks to rise. It's really in the FED's court right now if they want to allow this to happen.

As for trading, we made a higher low. If we break above $4,100, we are bullish. I will go wherever the market wants to go.