Friday, December 30, 2022

SPX and NYA: Due to Inflation Experienced During 2022, Next Year Will Be A.D. 3588

So it's the last update of 2022, and 2022 looks like it wants to go out with the near-term remaining ambiguous but with the market's longer term bearish intentions still, I believe, relatively clear:

Near-term, SPX still hasn't done anything but trade in a range, leaving the questions of the past couple weeks still unanswered:

NYA has formed a potentially interesting bi-modal near-term pattern (though there is the option of a complex flat that finds a bottom south of 15033 but north of 14866):

In conclusion, no change to either the big picture or the near-term yet.  So:  Here's wishing everyone a safe, healthy, and prosperous New Year.  Let's hope 3588 is a good one!  Trade safe.

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