This morning's "Washout Low" on the S+P 500 at 3568.45
could have set up an important "short term trading" BOTTOM.
S+ P500 Futures traders were quick to reverse shorts, and go long
on the measured move back above SPX 3590.
In the next 48 hours, Producer Prices for Sept will be released tomorrow,
and on Thursday all important Consumer Price Index also for Sept ,will be released at 830 am.
The stock market is always anticipatory,
and substantial market surprises can occur
when "the crowd" is completely looking in the wrong market direction.
As long as S+P 500 3590 Support /Long STOP HOLDS,
.and that is a very important caveat....
traders should look for a potential sharp upside rally in the next 48 hours.
This is NOT trading advise.
But it is based on a short term interpretation of the S+P 500 Chart.
SPX Last 3627.41
THE_UNWIND
10/11/22
Woods Of Connecticut
could have set up an important "short term trading" BOTTOM.
S+ P500 Futures traders were quick to reverse shorts, and go long
on the measured move back above SPX 3590.
In the next 48 hours, Producer Prices for Sept will be released tomorrow,
and on Thursday all important Consumer Price Index also for Sept ,will be released at 830 am.
The stock market is always anticipatory,
and substantial market surprises can occur
when "the crowd" is completely looking in the wrong market direction.
As long as S+P 500 3590 Support /Long STOP HOLDS,
.and that is a very important caveat....
traders should look for a potential sharp upside rally in the next 48 hours.
This is NOT trading advise.
But it is based on a short term interpretation of the S+P 500 Chart.
SPX Last 3627.41
THE_UNWIND
10/11/22
Woods Of Connecticut
LONG RECOMMENDATION STOPPED OUT !
THE_UNWIND