S&P 500 IndexShort
SPX is in the target and maj resistance zone
Nothing much to add since my most recent updates.
The price is in the target zone I had for a while now. Was expecting a good size pullback, never happened.
Im still in some trapped ES short, as well as RTY from Fri close and some SPY puts.
We got right into the Yellow dotted line I had for months now, its the main resistance line and right in our 4308SPX target zone.
Maj daily resistance is at 4308-35SPX
Maj support (and I expect it to hold) is at 4000-08SPX
Might stretch into 4930-50, but low 4k has higher chance in holding on the upcoming pullback.
As noted on the RTY chart, there is a chance we wont tag 200MA, too many are looking for one to get hit.
We should get some sort of pullback next week, how deep it will be, I dont know, but it can be quite fast.
Maj turn dates are the 16th and week of 29th, Im assuming that week will mark the high, might be lower high.
We have 9 unfilled gaps since Jun low, I expect those to get filled by Oct low.
Im expecting a double bottom or a marginal lower hit in to below 3450SPX zone before a good size rally into EOY.
Sep comes up as a panic month, I expect a good size reversal that month and it can get quite ugly in Oct.
I see some serious market movers Sep/Oct time, might stretch into Nov Midterm elections.
Those in power will do everything to rig it, so expect more international instability as well as something serious in the states.
Interesting and very dangerous times we live in.
Very important to gap down tomorrow to mark temp high.
Expect a counter trend next 2 weeks into week of 29th.
2 scenarios Im watching:
- top in main target zone of 4308-35SPX
- top at 4425SPX in case it wants to extend into mid of Sep
The price is in the target zone I had for a while now. Was expecting a good size pullback, never happened.
Im still in some trapped ES short, as well as RTY from Fri close and some SPY puts.
We got right into the Yellow dotted line I had for months now, its the main resistance line and right in our 4308SPX target zone.
Maj daily resistance is at 4308-35SPX
Maj support (and I expect it to hold) is at 4000-08SPX
Might stretch into 4930-50, but low 4k has higher chance in holding on the upcoming pullback.
As noted on the RTY chart, there is a chance we wont tag 200MA, too many are looking for one to get hit.
We should get some sort of pullback next week, how deep it will be, I dont know, but it can be quite fast.
Maj turn dates are the 16th and week of 29th, Im assuming that week will mark the high, might be lower high.
We have 9 unfilled gaps since Jun low, I expect those to get filled by Oct low.
Im expecting a double bottom or a marginal lower hit in to below 3450SPX zone before a good size rally into EOY.
Sep comes up as a panic month, I expect a good size reversal that month and it can get quite ugly in Oct.
I see some serious market movers Sep/Oct time, might stretch into Nov Midterm elections.
Those in power will do everything to rig it, so expect more international instability as well as something serious in the states.
Interesting and very dangerous times we live in.
Very important to gap down tomorrow to mark temp high.
Expect a counter trend next 2 weeks into week of 29th.
2 scenarios Im watching:
- top in main target zone of 4308-35SPX
- top at 4425SPX in case it wants to extend into mid of Sep
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