Market Recap 9/14/22

Yesterday’s session in SPX was historic: We saw the largest red day since March 2020.

Today was the opposite and price did what it often does after a big trend day, it put in a consolidation day where price played ping pong between two levels most of the day. Like all consolidations, this will result in a big trend leg (either way).

Oh, by the way, we may have a rail strike.

A rail strike would be devastating. Perhaps we see an agreement at the ninth hour. That said, we need to game out all scenarios. The most frightening thing I heard today was 2-3 day strike could lead to a 45-60 day disruption in grain markets (and other things).

CHK triggered today from last night. I also added two new names intraday today…AEHR & ARLP.

I’m buckled in for energy for the next few months. I think some weird shit is happening.

EU is going to raid the profits of energy companies for $140 billion and remove all incentives for them to produce more energy. The EU really has the most economically illiterate leadership imaginable (next to us). Thing EWP.

I don’t trust much, but nibbling at good charts.

See you in the morning.

Play small.



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