Folks, tremendous softness has developed over night from the moment I published my newsletter last night. We fell about 150 handles off the publication.
I was perhaps one of the very few who was still bearish post FOMC ramp.
I am sending out some tactical levels which may come into play today for a temporary support . I think if we trade down into 3650-3666, these levels may offer some succor for at least a few sessions to may be a couple of weeks. We are trading right under 3700 at time of this post. I will be extremely nimble though as the market is extremely emotional at the moment .
I think a lot of new bears will come out of the woodwork today and may be a bit late to the game and at unfair prices as I think some of this recession is priced in, so close to that 3600.
As always , stay very nimble. Not calling for an end to the bear, but simply the fact we are probably very oversold on shorter time frames.
~ TIC
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Thanks for the update Tic, appreciate it, even tho your explanation in weekly newsletter already predicted this post FOMC panic emotional move. Thanks dude
A word for any new readers here. The strength of this letter is its absence of religion ie no perma-bear or perma-bull. Few can think so objectively about markets. Great work.
Hello Tic. Don’t you think we will go to MA200 weekly for S&P @3500 before we see bottom out.
Thanks for the update Tic, appreciate it, even tho your explanation in weekly newsletter already predicted this post FOMC panic emotional move. Thanks dude
Tic - any chance you can do some big picture anal on REGN?
A word for any new readers here. The strength of this letter is its absence of religion ie no perma-bear or perma-bull. Few can think so objectively about markets. Great work.
Thnx Tic. Looking at getting into META at these levels?
thank you Tic!
Thx Tic!