26th - 30th sept

cash and es pivots link data: Hamzei Analytics

monday is likely to hold more lowside chop until a strong bid comes in forces covering for price to ascend and would be fair to say we're at a fulcrum......monday looks one of those 'i dunno' days .....a time to wait for the major money to cement a low or confirm a downtrend which, can be argued, is already in progress as the dow, trans and rut making lower lows whereas the spx and ndx both are yet to confirm......good earnings beaten by extreme sentiment.......the ted still shows strong liquidity withdrawal and the tlt strong new monthly highs which (with extreme neg sentiment) gives some pause for a new upside look.....as churchill once (paraphrased)said if your going through hell, just keep going......the vxo is also making a high in the low 50's suggesting, on past actions, that we have enough extremities to get a whiplash in the opposite direction.....people do eventually tire of negativity too!

on a very large negative note that tends to confirm a downtrend in the us indecies is the monthly 12 sma which has rarely been wrong (even though the sample is small it has veracity)

again, september a good month to take off from the screen...... :)