10/13/2022 Live Update

[Cobra]

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Breakdown from a consolidation area, bloody day?

[marcueus2]

Today or tommorrow we should have bottom, key numer would be getting below 3450 on SPX Easy money for all

[Trades w 2 Cats]

I don't like 0 dark 30 but it was quite a show. No way to participate and now trading flat. So this would have had to have been positioned with options yesterday to make any coin.

[Trades w 2 Cats]

Looks to me like wave 4 has finally played out. It did it's job of confusing people. IF this count is anywhere close we should be looking for some sort of low soon to be followed by yet another relief rally. Or not, it could just waterfall down.

[merryme]

Buying Opp forthcoming.

[BullBear52x]

/ES 3600 floor officially out, we are in 5 of 3. look for ABC up and another lower 5 wave down next week, and we should bottom per E-wave cycle. Low should be in on Friday.

Above are part of a Crystal ball reading, I am still going to follow my lazy simple playbook as usual, first thing first type of trade. Negative price action from yesterday and $CPC >1 did the work on this gap down. expecting to have a trend day today. will see what market brings today.

[jademann]

My big picture. I stayed flat, although I was tempted to buy SPXU before 8:30 CPI.

[Cobra]

Members only update at 10:00 am
http://www.cobrasmarketview.com/2022/10 ... ay-update/

[Cobra]

It's a morning hourly hollow red

[JFR]

ES daily. Trend down. Pushing down beneath support. Very active candle from high to low.

[brokebybernacke2]

rather muted (for moi expected) reaction so far , vix is RED, hello - they shall attempt to pin it in range for a bit lots of OOM bets need expiring. Jamie Dimon will get us moving more tomorrow.

[JFR]

ES 60 minutes. Crash. Down through R1, the Pivot, S1 and S2. Now back up to S2.

[Daniel]

vix is RED, hello

VXN and RVX are down as well.

UUP is well off its daily high.

[JFR]

https://www.marketwatch.com/story/u-s-s ... =home-page

U.S. stocks opened sharply lower Thursday, after the consumer-price index for September came in hotter than economists had expected, reinforcing expectations the Federal Reserve will continue aggressively tightening interest rates in its struggle to bring down inflation.

What’s driving markets
One of the most closely watched economic data releases of the month, the year-over-year headline number for the September consumer-price index came in at 8.2%, down from 8.3%, but higher than the FactSet consensus estimate of 8.1%.

But it was the rise in the core CPI number, which strips out volatile food and energy prices, that got the blame for the selloff, posting a monthly rise of 0.6% versus a Wall Street forecast of 0.4%. The increase in the core rate over the past year climbed to a new peak of 6.6% from 6.3%, marking the biggest gain in 40 years.

“The market’s steep drop following the data may indicate any lingering hopes of a Fed hike slowdown have been crushed,” said Mike Loewengart, head of model portfolio construction at Morgan Stanley Global Investment Office.

[JFR]

ES 5 minutes. Down to S3. It bounces back up to S2, and is now forming a base between the EMA 20 and S2.

[JFR]

GLD. "There's gold in them thar hills," on the short side.

[Al_Dente]

Earnings due tomorrow, Friday, October 14 - Citigroup (C), JPMorgan Chase (JPM), Morgan Stanley (MS), Wells Fargo (WFC), U.S. Bancorp (USB), and UnitedHealth Group (UNH).

10/7/22 Third-quarter SPY EPS growth is now expected to be 2.6%, down from 9.8% in July, according to FactSet. Analysts have cut profit forecasts by $34B and if the consensus is correct, it would be the worst quarter for bottom lines since Q3 2020, in the depths of lockdown, the FT reported.
According to the latest MLIV Pulse survey of investors, more than 60% believe this earnings season will push the S&P 500 lower.
"Almost universally, people expect Energy (XLE) earnings to be great and every other sector to be horrible"

[Cobra]

Last chances for bears here. Breakout with good looking bar in the next couple of bars then it's an uptrend day.

[BullBear52x]

No strength behind this move up, see RSI can't barely pass 60. waiting for >70 to sell into.

[BullBear52x]

Nice morning candle, will it last? seen something like couple days ago also only to disappointed at the closed.