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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Lee Lichterman III who wrote (48719)1/16/2022 7:32:59 PM
From: Lee Lichterman III2 Recommendations

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ajtj99
Lou Weed

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Just in case anyone was wondering, I've been really busy. I received all my parts for my rebuild project so have just been out of touch.
I didn't like how things were looking so even though market was climbing a couple weeks ago, I went 90% cash knowing I wouldn't be able to watch things. All my danger signals were firing but the charts showed chances for more upside. Once the decline started, I just watched, checking in once or twice a day. I dumped the last of my XLU last week and 2/3 of my MLPX Friday. That took me to about 95% cash.
I'm probably early but I did get some SPX just for a bounce play Friday but don't plan on holding it very long and kind of expect I'll be averaging it down. LOL
Don't have time to post charts but if you recall the index vs 10 year rate charts we talked about a long time ago, the NDX/TNX is back into the long term normal area, however the SPX/TNX still has farther to drop. The question now is the guitar string theory where pulled so far up, will it need to overshoot to the downside?
The Friday low was right on my lower channel line then we bounced. However, I saw this a lot on stuff that broke down earlier and the bounce was just temporary then the lines were broken and they dropped lower. I expect that here. I'm looking for a new trading range between 4400ish and 4800ish on the SPX. I think the SPX this year is going to look like the R2K last year.
FWIW - I saw my big breeder buck last week and am relieved he stayed on the property and made it through hunting season. Now if I can just find his sheds this spring.
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