No Country For Old Traders

“People are guided largely by intuition, and it’s sometimes shocking the way they think.” Robert Shiller

“Knocked down, not out, let’s roll” Neon Pill, Cage The Elephant

Following Tuesday’s SPX and QQQ NR 7 Days both indices gapped lower on Wednesday.

First the SPX.

We showed that based on the Square of 9 Wheel the initial downside pivot was 5333 which opened the door to 5260.

To recap, 5260 cubes out the low as it is 540 degrees up from the 4835 low for the move.

Our projection/roadmap for the day for a late day Air Pocket played out as anticipated triggering a break of a micro/intraday inverse Cup and Handle.

The break of our 5333 pivot drew the SPX to 5260, also an hourly Bottoms Line off the 4825 April low

The SPX Pinocchio’d the Bottoms Line but recovered to close above on a rally on the run off.

The door was open for follow thru and a test/ undercut of the 5116 region which is 360 degrees up from 4835.
This ties to the 5158 region which is the mid-point of the range from the 4835 low to the 5481 Squeeze Play high on April 9th.

This week being the 8th week from high and the end of the Gann Panic Zone for this phase of the bear market, the likelihood was for downside follow thru today going into a long weekend.

Be that as it may the bi-polar stroller we call the market is up over 50 points pre-open.

The SPX clearly knows this 5260 level.
The upside pivot, if the rally sticks looks like a push back to test yesterday’s Opening Range Breakout near 5315.
This ties to the 50 hour moving average.

Checking the Q’s shows yesterday’s gap down originated from an NR 7 Day/Holy Grail (backtest of the 20 day moving average) and a Minus One/Plus Two sell setup on Monday.

Let’s look at the Q’s through the lens of the Square of 9 Wheel.

From the 541 all time high 360 degrees down is 452.
540 degrees (a cube) down is 411.

The Q’s opened just below 411 on a massive gap down on April 7th, the low for the move and rallied sharply closing well above it at 423.

QQQ eked out a close above 452 at 466 on the big April 9th Squeeze but the Q’s have been backing and filling around 452 all week prior to Wednesday’s gap down.

This morning the Q’s are challenging the key 452 level pre-market.

It looks like it’s opening at/near resistance into Phil D Gap and the declining 20 hour moving average.

Just looking at intraday swings, the NDX traveled 7700 points last week.
That’s a lot of opportunity if you havef a road map.

Need help keeping up?

Here’s what subscribers have to say about the Hit and Run Report:

“You ought to follow Jeff Cooper—he was the ONLY analyst I follow that called for a waterfall into the 4800’s” RS, Financial Professional

“Thank you so much for the ‘Road Map’, Jeff. I don’t know how you do it. I have never seen anyone else call intraday turns like this. It is worth 10X the price of admission.” Toni Shimura

In sum, intense volatility has erupted creating immense opportunities…if you know how to navigate.
Buy and Hold is dead.
It is No Country For Old Traders.
It has been an exceptional year for Hit and Run.
And it all comes down to the numbers and the charting.

And the Square of 9 and its Time and Price cycles has made all the difference.