Broad Market Levels: September 01, 2022
September 02, 2022
Knox Ridley
Portfolio Manager
In this week's broad market video update, Knox explains why the next two weeks could determine the rest of 2022. Read his full technical analysis here. Taken from a 1-hour premium webinar, Knox shares his view on where the market may be headed in the coming weeks. While examining the current structure, Knox discusses whether or not the first leg of a larger bear market will last until 2023 or if there's something else going on. The broad market update also includes an overview of three scenarios that will be likely going forward and takes a look at the supporting markets such as crude oil and the U.S. dollar.
Broad Market Levels Timestamps:
00:00 - The Next Two Weeks Could be Very Telling
04:25 - Three Scenarios
09:31 - Key Levels
10:34 - Oil and Inflation Levels
12:15 - Interest Rates
13:13 - The U.S. Dollar
Three Broad Market Scenarios
Scenario #1: The Leading Diagonal
The first is the blue count, which is a leading diagonal that leads up to the 4,300 level. However, this scenario becomes less and less likely if the SPX remains below the 4,000 range.
Scenario #2: Five Waves
The second scenario is the red count, which is similar to the blue one in that it will go up to the 4,300 level. The only difference is that whereas the blue count will follow a 3 wave pattern, the red one will follow 5 waves.
Scenario #3: Three Waves
The final scenario is the orange count, which is a 3-wave drop to the 3,480 confluence level and to the 3,290 below that. Knox explains that although this is an unlikely scenario, there’s plenty of time to prepare.
Supporting Markets
Oil & Interest Rates
On Supporting Markets, Knox says there’s some temporary good news with oil and interest rates, but expects both markets to drag down equities in the future. He expects oil to break out of the 94 levels, while rates are closer to a low than the market.
The U.S. Dollar
Of all the supporting markets, only the U.S. Dollar is showing good signs for equities. Knox believes that the U.S. Dollar is reaching a meaningful top and expects that this will have a positive effect on equities going forward.
Related Technical Analysis: Why the Next Two Weeks Could Determine the Rest of 2022
Read Knox's in-depth supporting full-technical analysis on the 09/01/2022 broad market levels here.
To get more free stock analysis on fundamentals and technicals, sign up for I/O Fund's free newsletter with gains of up to 403% - Click here.
Catch up on previous Broad Market Levels
Levels to Monitor in the Coming Pullback
In early July, the broad market failed to make new lows even despite the bad news. The CPI print came in at a 40-year high, followed by the producer price index surprising the upside. This told the market that inflation was still an issue and would likely be in the near future. This was then followed by mixed banks earnings, as reports of a looming economic slowdown and run-away inflation were starting to show up in earnings.
About I/O Fund Premium Stock Investing Services
Premium Members currently enjoy all 7 Premium benefits below.
- Premium library of institutional-level research and analysis, including fundamental stock analysis and advanced market signals on technicals and macro analysis.
- Weekly Webinars on advanced market signals and broad market, plus quarterly portfolio reviews on Long-Term Buy and Hold tech stocks.
- Technical Analysis on stocks and Broad Markets with charts on all major US markets, analysis of inflation and growth, as well as 60 global markets to help us focus on risk/reward for entries and position our portfolio based on the macro-environment.
- An Active Forum made up of a community of like-minded investors with robust conversations including both fundamental and tech product analysis.
- A completely Transparent Portfolio made up of long-term buy and hold positions, crypto, and Long/Short Momentum positions.
- Trade Alerts are sent directly to your phone via SMS and email.
- NEW! Automated Hedge with advanced signals to help spot approaching risk in the markets, with a 67% win rate going back to 2003 with only 40 signals triggered.
About I/O Fund Portfolio Manager Knox Ridley
Knox Ridley began consulting on portfolios in 2007 and is an experienced growth investor in both bull and bear markets, which is hard to find these days. As the portfolio manager of the I/O Fund, he beat the top-performing funds on Wall Street in both 2020 and in 2021. His real-time trade notifications to premium subscribers have garnered 27 entries with over 100% gains in the last two years. Knox began his career as an ETF wholesaler in 2007 before becoming a portfolio consultant for large RIAs, FAs, and Institutional accounts. He is very keen on macro trends and is trained in Fibonacci Trading, Elliott Wave theory, as well as Gann Cycles. He also uses classical technical analysis to manage risk and identify great risk/reward setups. Knox is known for increasing and decreasing allocations for record-breaking returns.
Gains of up to 2,880% from our Free Newsletter.
Here are sample stock gains from the I/O Fund’s newsletter --- produced weekly and all for free!
2,880% on Nvidia
750% on Bitcoin
*as of Nov 20, 2024
Our newsletter provides an edge in the world’s most valuable industry – technology. Due to the enormous gains from this particular industry, we think it’s essential that every stock investor have a credible source who specializes in tech. Subscribe for Free Weekly Analysis on the Best Tech Stocks.
If you are a more serious investor, we have a premium service that offers lower entries and real-time trade alerts. Sample returns on the premium site include 4,490% on Nvidia, 900% on Chainlink, and 1,120% on Bitcoin. The I/O Fund is audited annually to prove it’s one of the best-performing Funds on the market, with returns that beat Wall Street funds.
Get a bonus for subscription!
Subscribe to our free weekly stock
analysis and receive the "AI Stock: 5
Things Nobody is Telling you" brochure
for free.
More To Explore
Newsletter
Semiconductor Stocks Exposed To China With Tariffs Incoming
Semiconductor stocks will come into focus in 2025 as geopolitical tensions rise. China is likely to retaliate following Trump’s most recent threats of 10% additional tariffs to all Chinese goods. This
Shopify Stock Is A Black Friday Beneficiary That Faces Key Test In Q4
Black Friday and Cyber Monday e-commerce sales broke records again this year, with Adobe pointing out that US sales increased 10.2% YoY to $10.8 billion on Black Friday while Cyber Monday sales rose 7
Nvidia’s Stock Has 70% Potential Upside For 2025
Nvidia once again posted a $2 billion beat to consensus revenue estimates in Q3, reporting YoY growth of nearly 94% to over $35 billion in revenue. Data center revenue more than doubled in the quarter
Nvidia Stock Is A Buy On Dips Before Blackwell Arrives In 2025
Nvidia’s stock broke to all-time highs recently, trading at $148 in early November and $147 yesterday. The stock has left many investors wondering “what comes next” after the unrelenting, historic sur
AI Spending To Exceed A Quarter Trillion Next Year
Big Tech’s AI spending continues to accelerate at a blistering pace, with the four giants well on track to spend upwards of a quarter trillion dollars predominantly towards AI infrastructure next year
Palantir Stock: How High Is Too High?
Palantir proved again in Q3 that it’s undeniably one of the stronger AI software stocks in the market outside of the cloud hyperscalers. The company reported visible AI-driven growth and persisting bu
Bitcoin Bull Market Intact as Risk Increases
In December 2022, we boldly stated that “Bitcoin is a buy” when it was trading around $17,000. We were positioning for a new bull cycle and projected a target between $75,000 - $132,000. Despite Bitco
Tesla Stock: Margins Bounce Back For AI-Leader
Tesla is arguably one of the most advanced AI companies in the world, yet its stock is dictated by margins. Over the past three years, Tesla’s average gross profit per vehicle has declined by 60%, fal
This Stock Is Crushing Salesforce, MongoDB And Snowflake In AI Revenue
In this article, I break down how Palantir’s AIP is putting it a step above peer Salesforce, MongoDB and Snowflake with visible AI growth, and its undeniable ‘secret sauce’.
Nvidia, Mag 7 Flash Warning Signs For Stocks
In this report, my team will address the risks brewing in the market. The strange behavior in the bond market could be signaling that the FOMC has made a policy error. This coupled with key tech stock