Market view

POMO !!

Wow, what can I say, with no serious data yesterday they could use it for a nice POMO day, perfect manipulation to the upside , and then they call recession over, so all retailers can suck in this rally.... ouch I feel so bad for all the retailers who just follow the officials when they say recession is over. I havent really seen for a long long time, markets rallied so many days in a row and I am pretty sure when the momentum goes away(which it could today with serious economic numbers, FOMC) then we have a possible flash crash setting up or some serious serious change in direction. I am STILL short SPX 1122, and yes it does hurt a bit and I'm underwater, but as fast as we move up we can crash down, remember the markets takes the stairs up and elevator down....

There are so many negative divergences and everything telling me we should go down, but when FED is manipulating the markets there isnt much to do really, so can they still do it ? Yes , and they will, but they have never did it before for a long while before a big plunge...

So I am still short and underwater with my TZA, but holding strong.

We might get a gap up today but I FOMC will change a lot things today, biggest event, watch it. Rate decision today...they called recession over yesterday ? Why did they do it exactly one day before FOMC ? Well.. if they are going to increase rates just a little bit.... then we have a big crash.

VIX is still in the pattern and didnt really fall down on yesterdays move, just telling me that they are REALLY manipulating and shorts where covering...

My target SPX is still 942 in next 3-4 weeks(still expecting a nice crash comming) Look at the chart above from 1930 crash , looks like perfect like today... we are at the number of 8 now..

Have a nice day