Morning Notes – 5/20/2022

Good Morning:

• It has not been easy to focus this week as I lay my mother to rest.
• Knowing that she died from vaccine complications is an even harder pill to swallow.
• But the hardest pill to swallow, as both a son and patriotic American, is that the Biden regime is about to cede our health sovereignty over to the World Health Organization, the very corrupt fraudsters controlled by the Chinese Communist Party who lied through their teeth to us and screwed up the Covid-19 Pandemic.
• The bribes paid to the Biden Crime Family by the Chinese Communist Party and others seem to be paying off, don’t they?
• Ukraine is now $40 billion better off for it.
• Now the U.S. will cede its health sovereignty to a corrupt global government. The WHO is part of the same United Nations crowd that hates the United States of America. They are avowed leftists and communists.
• You can learn more here and here.
• We are losing our country and rights so fast it makes your head spin. We better wake up, or it will be too late. We all need to contact our representatives in Congress and protest this outrageous move toward World Government.
• November elections? Please don’t count on them. At this point, the national elections seem just as rigged as the big city Democrat machine elections. And the left may find reasons to cancel or alter the elections like they did with Covid-19. Monkey Virus, anyone?
• Did you ever think you could see our nation virtually collapse in less than 15 months?
• Yes, they are reprogramming gas pumps around the country for $10.00 per gallon gas. Apparently, many of the pumps only go to $9.99.
• The left will never relinquish power now that they successfully stole it. Be prepared.
• If you want to know how they stole the election – start with the new documentaries “2000 Mules” and “Rigged.”
• As to the stock market, I have not been glued to my screens this week. But the Founder’s Group scaled into some July SPY and QQQ monthly calls over the past few days.
• We did not announce these trades to subscribers as I did not feel my usual confidence level when I am in front of all my screens. But another Navigator swing buy signal is painting, depending on how the market closes today.
• The swing buy requires a successful retest of the May 12th low, which is underway.
• I will let subscribers know if the signal will move forward by the end of the day. Consider a subscription as it more than pays for itself. As with recent signals, the idea is to get to break even as fast as possible and then move the stops up with the swing to lock in a profit.
• Futures are higher to 3940 ahead of today’s monthly expiration. Volatility estimates continue to hold at 1.2% (open/close), and we anticipate this changing for Monday due to the roll-off of put positions. Resistance is at SPX 4000-4015 (SPY 400). Support shows at 3950 and 3900.
• A market push to 4000 SPX (SPY 400) and 300 QQQ likely relieves any monthly expiration pressure – and the moves could happen today into Monday.
• If the market tags these respective targets, that likely withdraws any significant options-based support for the indexes.
• Price action at or below 3800 should produce buying from dealers, but this level shifts to 3700 after expiration.
• This general trend of traders uninterested in calls and systematically rolling puts “down & out” suggests an acceptance of (and positioning for) lower stock prices.
• Watch for a True Gap open and apply Gap Rules if the gap occurs. At this writing, the market is still inside the top of yesterday’s range.

Have a pleasant weekend – summer is almost upon us.

A.F. Thornton