Good afternoon, everyone, it’s Rob. Hope you’re having a fantastic day. Here is the Market Intelligence Report, the weekly update, the recap of what we’re gonna be looking at for next week, which is for Monday the 12th of September 2022. Hope y’all had a great day and it was a great trading day today. I hope you got to take advantage of it., Man, I am so stoked for the move. We got exactly what I was hoping for, not what I expected, but certainly what I was hoping for.

So we had this pullback over the last couple of days, and if we count back till Friday of last week, here’s Friday. Okay, and then Monday holiday, ao here we are Tuesday. So we had one last pullback on the S and P 500 and we broached, reached, (broached?) down below that 3,900 level with the wick, and that has been our indication lately to keep pushing down. We got that strong push up on, Wednesday and the retest of the .618, the 3952.18. We got that retest in there on Thursday and a bounce, right from there. It retested and it bounced. And closed yesterday, Thursday, just above the 8 moving average, just above the 4,000 level. Hundred point levels are critical .thousand point levels gets a lot bigger eyes of attention on it. There are more people looking at the thousands as well, not just at the hundreds. There’s some that don’t focus on the hundreds, but the thousands become a lot of institutions, or… I don’t really look at any of ’em, but wow, it’s that 4,000! Kind of it’s, it’s just a big number that people just have in their head. I’ve even heard some of this junk on CNBC that, oh, the 4,000 level. Yeah, it’s just another a hundred point level. That’s all it is to me, but we got above it.

And I kept saying that we needed to close above and sustain above. Even yesterday, as I was doing my updates, getting ready for my trades today, I’m looking at this and remember everything that you look at always has to be much more than just looking at the last bar on the right hand side. You need to be able to sit back, position number one in the chair, and identify what’s happening in the market. Look at it objectively and say, “okay, this is what I see.”

Well today we opened up on a gap and that was a nice move up. When I did the pre-market update this morning, that was a really nice move up. We stretched back a little bit, not all the way to the 40,23. I would’ve liked a pullback lower than that and a bounce. We didn’t get it. I’m okay with that. If we can get some kind of pullback from here. So we pushed up, we had a little giveback at the end of the day, nothing crazy there, and we closed above the highest moving average. Now all of our moving averages are in the wrong order. They’re upside down. We may need to paint my fingers, pink, green, and brown. They’re upside down. Well, that means we’re in a bullish bias right now, but not true bull. Not anywhere near bull-bull, right? It’s not the strongest bull, but we are bullish. In other words, we’re above the highest moving average.

I need the 8 to make its move back up above the green, the 21. That’s the strength level that I’m looking for. But if I can get a pullback, even down to the moving averages on Monday, let’s say I can get a pullback to the 4053 level which is the green line, that 21 exponential moving average, and a bounce, a lot of strength in there. Just gaping and running is great, but I need to pull back. We had a lot of nice strong days here now, I need a little bit of rest. All right. A little bit of the woo. Okay. Woo. Fan it off, baby. Fan it off. And now go ahead and start to grow and push back up again.

We’re still looking at that 41 81 is our critical level. We’re ways away from that yet. We’ve got a few levels to get through first, including that 4,100 and that next Fib line that’s right there, and then of course, we’ve got a Fib line that 4181, this very dark black line. And then the 4,200 level just above that. And we’ve been there. Oh, not that long ago and failed, so it’s gonna be very interesting to see how it reacts.

Once again, sitting back position one in the chair. What do you see? And that’s what I’m doing, folks. What do I see? All right. Hey, have a great rest of your weekend. God bless. And I will see all of you this week. Don’t miss Power Hour. We got a great surprise for power hour. Shaune just shared it with me. I am stoked to release us at Power hour. So make sure you guys are registered for that free training come Monday. All right. We do power hour each and every Monday at noon Eastern. So I will talk to y’all soon. Take care folks. Bye for now folks.

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