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US Stocks are 10 Points from the Bullseye 9/1/22

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To further expand on my thoughts about the SPX mirroring Russia...

If you'll recall my prior chart from August 20th, "A Fractal within a Fractal" I mentioned 3250...

I'm going to add this thought...while it's incomplete and obscure - at the moment.  The charts will become clearer as the market unfolds.  

This chart was tantamount in coming up with my forward looking analysis...Read through the mental gymnastics.  THIS...is ART.

528811537_ALessonifYoullTakeIt-September12022.thumb.jpg.cfe9ee808dbf9202c3589c5f78a432e4.jpg

Here is a convenient copy of "A Fractal within a Fractal".

1392743275_FractalwithinaFractal-August202022.thumb.jpg.011a3aa666f70c536ae625a2c3ca5892.jpg

I personally don't give a damn about 3900, look at the ^IXIC(in the chart above)...the light resistance is right there in the chart.  In my mind...it's already fallen.  Personally speaking...I'm watching 3750.  Why?  Because when it cracks...I'll know were just over 1/2 way to an intermediate term target.

As I've already stated, when 4160 fell...the door to 3750 opened. 

I'll stand(or fall) by that..

Best,

TCG

oh...and...

9.22?

 

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At noon here...I'm seeing doji's  everywhere on the Daily.  Except in the ^HUI.

I'm continuing to watch this area in the GLD with great interest.  The SLV(and the ^HUI) has already fallen.

I'm going to sit here and watch the strength of the defense of this area...and wait for "It".

It...being the catalyst.

Patience.

Best,

TCG

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Agreed...but my guy(Tom) tells me the trading desks were parroting 3900 to anyone who would listen as the "last line in the sand".

My comment at the top of this page is with that in mind...

TCG

For those who don't read charts...I've added a couple of lines to "A Fractal within a Fractal" to hopefully make understanding what I'm saying more simple.

3900 - September 1, 2022.jpg

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3250 is the area where we were when the vaccine news came out. Market was about to crack down right before the news came out. So that‘s a natural support level.

Another one is 3000: Big fat round number, but more important: it was the level where many folks went long again In June 2020 after the March low. There will be a mega battle around those lower 3k levels. 

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