Snap back day?

⚾PRE GAME WARMUP

It's hump day already and we’ve got another DCB (dead cat bounce) attempt by the overnight crew. When Mrs. Market hits an important number, she typically has a decent bounce. That occurred from late session yesterday into the overnight Globex session...

What if she goes lower you might ask?

Well, that's why we have the next set of numbers and places. We'll start with getting below yesterday's low around 425.00. Then it's all about [Login here] which is the last line of defense before the bears push price into "no mans" land for another leg down...

Sometimes they'll dip their toe into no mans land, realize the water is too cold and pop right back out. The gap waiting on the other side is [Login here]. Getting below opens the door for yet another leg lower, which will be handled as and if needed in a real time type situation...

What about the flip side rescue operation?

Well, remember [Login here] from yesterday, the no dice number? The bulls need to recapture it on candle closes to get anything going in the rescue isle. If they can, they'll run up to spike above [Login here] which would another toll on the road to higher prices. Which will be provided as and if needed...

Click here to Day Trade LIVE with David

🎬THINK IN PICTURES

The VIX is what we call a wild spikey rodeo fear gauge type vehicle. The LIVE Room was provided targets two days in a row long before she arrived. The numbers were spot on.

Above you’ll see the next two targets on a continued rise in FEAR.

🌗RECYCLE TIN FOIL HAT

If the world is round, which by most accounts it is… Then we’ll start today’s Re-Cycle concept with 360 degrees, which is also twelve months (roughly) signifying a full turn of the earth around the sun.

If you split the year in half (6) and divide into the same 360 degrees, you get 60. Why is that important? Because the market toped out 60 days ago on July 27^th - around 7% ago… (Funny how that works?)

Is she due for a bounce?

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💣WRECKONOMICS

Beware of the recession boogeyman.

Another brick in the wall of worry that investors, economists and analysts have backwards.

They’ll talk recession dawn til dusk, they beat it to death. What they don’t realize, even after watching it cycle after cycle is that by the time an official government recession is recorded…

Markets have already sold off, shaken off the weak hands, cleaned out some excesses, has bottomed and on its way back up for a garden variety retracement.

The lesson is markets drive the economy, not the other way around. Watching the economic dater releases for clues on what to do is an exercise is wasting time.

You can’t make money off recession talk, but you can make money being on the right side of a trend…

🩺PSYCH WARD

Why are we only attracted to the news that supports our current position?

Let’s say we own shares of Apple. The stock falls and you’re losing money but not ready to throw in the towel. After all, Apple is a fantastic company with a corner on the electronic fruit market.🍎

You whip out your phone and begin the search for news on the company. Isn’t it fascinating you skip the articles that promote the bear case and click on the ones that discuss growth, expansion and new products. You want to read the stuff about the company being “cheap” because it’s in the midst of a correction. (Courtesy of the 50 or so analysts that cover the stock where 95% have a buy or strong buy…)

It’s called confirmation bias and has no place behind the plate. Remember, we’re the umpire, calling balls and strikes.

The moral of the story is that none of the articles will help you without an understanding of where Apple is on the chart and whether or not it’s found a long term place of support…

We discuss this type of stuff and a whole lot more every day in InsideTheNumbers LIVE

🏆MEMBERS SAYIN’

I’ve followed numerous “analysts” the past year. You’re the only one who either saved my ass from myself, or out right helped me with the actual reality of the numbers. Looking forward to journey from here. Carl R.

DISCLAIMER STUFF: Nothing found in this communication is financial advice. This newsletter is strictly educational and not intended for or should be thought of as investment advice or a solicitation to buy or sell any assets or to make any financial decisions whatsoever. Please be careful and always do your own homework.