I've been a persistent bear into all the rallies under 5700 but 5700 I did think was a good level for a bounce.
I still expected lower off this but from as early as November I'd forecast a bounce here if we topped somewhere around 6100.
This was betting on a 1.27 hold or at least a dead cat.
That idea might have failed today.
Markets closed today at support. I don't like bear posting at lows in general and hate doing it on support ... but if this support breaks, the drop can double.
We could see a capitulation of 500 points in SPX.
It could be something we see soon.
I still expected lower off this but from as early as November I'd forecast a bounce here if we topped somewhere around 6100.
This was betting on a 1.27 hold or at least a dead cat.
That idea might have failed today.
Markets closed today at support. I don't like bear posting at lows in general and hate doing it on support ... but if this support breaks, the drop can double.
We could see a capitulation of 500 points in SPX.
It could be something we see soon.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.