Another Fed meeting that failed the bulls, some believe that too many bears equates to a mega rally. The bear wants everyone to lose, just as they believe the worst has past, the market turns on a dime and whipsaws again.
Our maximum corrective rally was spot on at 33089, just 14 points off. Our down trend line has held for many months and this weeks rally was repelled again. We expected prices to hold up until "election" day and Friday's rally came off strong payroll numbers. This market should have tanked, the powers made sure this market holds until Tuesday.
Thereafter we expect a selloff, the Fed has no interest in keeping these markets pumped, there intention is clear until 2023. Supply constraints are inflationary, rate rises exacerbate the serious problem...punish those with high levels of debt. This controlled demolition is worldwide, a reset of our modern life as we used to know it. Wipe outs are coming, a slow and stealth destruction of wealth sprinkled with bouts of fast and furious.
Most folks are ignorant of the coming calamity, the bears get it. There will be ZERO pivot until the Fed decides enough carnage in the economy, we ain't seen nothing yet.
Precious metals took off on Friday, could be a bottom...central banks have bought huge amounts in 2022, they know what's coming. At some point the availability of PM's will dry up to a trickle, premiums in silver are way over the fake spot price.
We wait for the elections on Tuesday to hold markets up somewhat and then resume the trend down. An acceleration of selling will accompany wave three down of higher degree.
Appreciate a thumbs up...Good Trading & God Bless!
Our maximum corrective rally was spot on at 33089, just 14 points off. Our down trend line has held for many months and this weeks rally was repelled again. We expected prices to hold up until "election" day and Friday's rally came off strong payroll numbers. This market should have tanked, the powers made sure this market holds until Tuesday.
Thereafter we expect a selloff, the Fed has no interest in keeping these markets pumped, there intention is clear until 2023. Supply constraints are inflationary, rate rises exacerbate the serious problem...punish those with high levels of debt. This controlled demolition is worldwide, a reset of our modern life as we used to know it. Wipe outs are coming, a slow and stealth destruction of wealth sprinkled with bouts of fast and furious.
Most folks are ignorant of the coming calamity, the bears get it. There will be ZERO pivot until the Fed decides enough carnage in the economy, we ain't seen nothing yet.
Precious metals took off on Friday, could be a bottom...central banks have bought huge amounts in 2022, they know what's coming. At some point the availability of PM's will dry up to a trickle, premiums in silver are way over the fake spot price.
We wait for the elections on Tuesday to hold markets up somewhat and then resume the trend down. An acceleration of selling will accompany wave three down of higher degree.
Appreciate a thumbs up...Good Trading & God Bless!
We are switching focus to our PM's until further notice.
Gold and silver very likely made a bottom last week and could sense the inflation number as it turns out.
The Fed will have little choice but to slow rate rises, this is risky now for the bears.
PM's have been beaten down far too long and will resume their mega bull run from here onwards.