EXPECT INDUSTRY WIDE BAILOUTS AND MUCH HIGHER INFLATION... Important Updates. Mannarino
From Greg M
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Thank you Greg, finally a time to take a deep breathe of momentary pause... you have given me great knowledge and mental strength to handle the pressures of this market... stay kool ...!
Greg,
Good morning.
Yes it is an unusual morning.
We had anticipated the US$$ had peaked.
FYI it is going lower.
It broke it's weekly support of 108.35 trading @ 108.19
Also gold is set to break it's weekly resistance of $1740.50 trading @ $1740.00
Please note that if these numbers hold above at close it sets a stronger trend in motion.
Oil has to break weekly resistance of 90.39 trading@ 88.65
IMO oil is going to go lower due to demand destruction from the recession we are in and China is worse off than us.
IMO the professional traders are already on the correct side of these trades.
Finally the DOW blew past it's weekly resistance of 32,227.74 trading @ 32,440.10
With regard to the markets nobody pays attention to mass psychology.
IMO the professional traders are getting out of their short positions(squeezed)
longs will take profits as well.
This gives the chance to harvest profits.
Farmers know we had a beautiful harvest moon this past weekend.
https://www.cnn.com/2022/09/09/world/harvest-moon-september-2022-scn/index.html
Just following charts that have a longer life history .
Enjoy the day.
thanks,
WOT