Thanks, @rsotc. I’m watching the P/C ratio as well which hasn’t had the usual blow-off top move to mark the end of the selloff.

There are actually many discrepancies / mixed signals at the moment. The NASDAQ stocks above / below the 50 MA is in “buy” territory. Then we have credit spreads not showing distress even though we’ve just had the worst Treasury crash since 1777 (or thereabouts; going from memory with what I researched over the weekend). The National Financial Conditions Index is also not throwing doomsday signals. Maybe that’s yet to come.

The Fed clearly wants to tank the markets. Anytime Powell says “tighten financial conditions”, it’s a euphemism for “tank equities”. Cautiously staying the course for now from an investment management / macro standpoint.

You’re watching the same things as me. I’m preaching to the choir. Just wanted to point out the AAII and the somewhat hilarious CNBC “Markets in Turmoil” data.

Anyways, day-by-day. Very much appreciate the response! Beautiful call on NG Friday morning. Hit the nail on the head.

As I like to say, the AAII poll is a survey that tells us how bullish or bearish those being polled are in RHETORIC while the various put-to-call ratios (my preferred sentiment measures) tell us how market participants are actually POSITIONED. While time may very well prove me wrong, the fact my P/C ratio indicators have not even come close to my bearish extreme (buy/cover levels), that is just one more thing that tells me that a bottom is not likely been put in yet.

Again, only time will tell & no signal (or even multiple) indicator(s) is 100% effective so stay nimble & adjust as/if/when the charts indicate.

I’m going through my old trades and realizing many were made at the work possible time.

On Wednesday I noticed the DH on the UNG chart. I purchased a few shares of KOLD and got stopped out yesterday with a 1% profit. I bought back in near the end of session as the DH had extended and became more obvious. I closed the day up 14%

Thanks for the work you do. I went through many charts today looking at past prices and “wash rinse repeat,” kept popping into my mind.

Take a look at the AAII sentiment I posted in the chat which is the lowest since March 2009. Also, I posted some CNBC “Markets in Turmoil” data. The entire chat is short. This is not a “lone bear” setup. I even had two friends text me out of the blue this afternoon. Both of them know nothing about the markets and they were asking me if there was going to be a crash.

From a long-term / macro point of view… yes, we should be going lower. The Fed will likely tank the market and throw the economy into a terrible recession or depression. Shorter-term, sentiment is troublesome.