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The Market's Moment of Truth Has Arrived 2/3/23

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The market faces a real test this morning as  negative earnings surprises hammered prices overnight. 

Will the losses stick, or is it just another buy the dip? 

At 3:30 AM New York time, the pullback has hit a trend sport convergence at 4142. To really get anything going on the downside today, they need to break that, and another trendline currently rising from 4120 to 4128 when NY opens. The only projection so far is a 1 day cycle projection of 4113. A key trendline is vectoring toward that point for a 12 noon rendezvous in NY.   


or moron the markets, see:

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Sentiment like this didn't last long in Bear Markets..

• some core Models are near Top levels.

• Trash Stocks are rallying identical to last August.

• Bulls are taking victory laps.

• Bears are openly ridiculed.

Human nature never changes – if/when this turns down, look out.


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regarding NFP.

In percentage terms, it's nothing out of the ordinary. It's just on the largest employment base on record. M/M not seasonally adjusted declines in Januaries:

2023 = -1.6%

2022 = -1.9%

2021 = -1.8%

2020 = -1.8%

2019 = -1.95%

2018 = -2.1%


We always drop a lot in January.

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