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October 19, 2022 Mid-Week Market Update

www.trading-adventures.com

October 19, 2022 Mid-Week Market Update

Another look at magazine covers

Andrew Moss, CMT
Oct 19, 2022
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October 19, 2022 Mid-Week Market Update

www.trading-adventures.com

In this past Weekend Market Review, I mentioned The Magazine Cover indicator.

It's one of those funny Wall St. anecdotes that maybe doesn't have enough empirical data to really be a signal. But at the same time is interesting enough that it’s hard to dismiss. 

Many have studied and written about it.  I'll leave the deep dive for them.  But the gist of this theory is that magazine covers can represent the collective mood of market participants.  And since the process responsible for getting these stories and images onto the magazine covers is rather lengthy, the message is often wrong, or at least late. 

Today, on Twitter I shared some of the “deep dives” I’ve found. In lieu of more market charts today, I invite you to take a look.

Click here to open the thread: 👇

Twitter avatar for @Andy__Moss
Andrew Moss, CMT @Andy__Moss
Over the weekend I mentioned the "Magazine Cover Indicator." I first learned of this many years ago from @PNFtomdorsey and @DorseyWrightDWA A fun and interesting anecdote, but perhaps not a true "indicator."
Twitter avatar for @Andy__Moss
Andrew Moss, CMT @Andy__Moss
That's it for weekly macro charts. I'll shift gears to some individual names shortly. Check out my Weekend Market Review for a deeper look at: 🟢The CPI report 🟢The Dollar and magazine covers 🟢The bull and bear case Read and subscribe👇 https://t.co/Rg6xzwoaxm
5:22 PM ∙ Oct 19, 2022

Market psychology fascinates me. I hope you enjoy this type of thing as much as I do.

I’d love to hear about it.

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***This is NOT financial advice. NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.

Andrew Moss is an associated member of T3 Trading Group, LLC (“T3TG”) a SEC registered broker/dealer and member of FINRA/SIPC.  All trades placed by Mr. Moss are done through T3TG.

Statements in this article represent the opinions of that person only and do not necessarily reflect the opinions of T3TG or any other person associated with T3TG.   

It is possible that Mr. Moss may hold an investment position (or may be contemplating holding an investment position) that is inconsistent with the information provided or the opinion being expressed.  This may reflect the financial or other circumstances of the individual or it may reflect some other consideration.  Readers of this article should take this into account when evaluating the information provided or the opinions being expressed.

All investments are subject to risk of loss, which you should consider in making any investment decisions.  Readers of this article should consult with their financial advisors, attorneys, accountants or other qualified investors prior to making any investment decision.   

POSITION DISCLOSURE

Long: SPY 1021P350, CVX, IWM

Short: SPY1021P330

Options symbols are denoted as follows:

Ticker, Date, Call/Put, Strike Price

Example: VXX1218C30 = VXX 12/18 Call with a $30 strike

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October 19, 2022 Mid-Week Market Update

www.trading-adventures.com
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