Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.


* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Vintage Xmas Shopping

Vintage Xmas Shopping



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Wednesday, January 26, 2022

Indecision Grips The SPX Amid A Rising Misery Index

I last wrote about the SPX and the Federal Reserve here.

The high-wave candle forming on the following weekly chart of the SPX indicates indecision by investors.

It's formation, thus far this week, follows today's FOMC interest rate statement and Chairman Powell's press conference...about which I wrote in today's UPDATE in my above-mentioned article.

As of Wednesday's close on this weekly candle, the Balance of Power is slightly in favour of the buyers.

However, with very little price movement to the downside, that balance can shift in an instant.

It's one indicator worth watching, especially into Friday's close this week, and beyond.

With the Misery Index on the rise under President Biden's radical socialist policies, executive actions, and agenda, we're likely to see high volatility continue in both directions in all markets for the foreseeable future and into 2023, and beyond.

The Misery Index is currently at 10.94.

My post entitled SPX: The Blowoff Phase Has Begun describes the factors affecting these moves and provides links to a variety of my articles for further insights, as well as price targets and support/resistance levels for the SPX...all worth a read.