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    Volatility Reports 10/16/23

    October 16, 2023

October 16, 2023

Volatility Reports 10/16/23

The spin factory wants you to focus on earnings season, but even Jamie Diamond thinks the corporate news this cycle could be stood on its head by market risk

It’s Monday, and as I have pointed out the bulls have a strong hand on this day. Trading the thin Globex markets higher into the open is not a surprise and does not alter s-t’s outlook or planning.

Our post last week pointed out the COT high expected mid-week, it clearly hit on the 11th. The tidal system high was due on Friday/Monday along with the solar eclipse Saturday. Any rallies into this cycle high will be reversed.  That is the early advance has a high probability of being short lived.

The proprietary %BB-VX-Spread (BB for Bollinger bands) is “in house” because of the data it uses, which is about as far as I am willing to go here. But its failure to cycle to a new extreme high has ALMOST never been a bullish instance. In fact, only once as far back as my data goes.

The short and intermediate term forecast is for new lows this week and next, target before the end of 2023 is the October 2022 lows.

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