Really afraid to publish this...but here we go...to sub 2400 SPX
Those of you whom have been following me know that I've had some really great calls in gold, EUR, and USD but have unfortunately called the top too early for equities a couple of times...and this one could be wrong, too, but the waves over the past two weeks are clearly impulsive to the down side and if you look at the detailed analysis on the chart it looks like the next big movement should be to the downside as a 3rd of a 3rd, which typically means a strong, fast, and extended wave in Elliot Wave theory.
If this analysis is right, SPX should be below 2400 sometime in the next few weeks in November...if the sell-off is as historic as I anticipate then this will just be the first significant wave of the bear market that will take SPX to dismal levels.
If this analysis is right, SPX should be below 2400 sometime in the next few weeks in November...if the sell-off is as historic as I anticipate then this will just be the first significant wave of the bear market that will take SPX to dismal levels.
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