When the levee breaks
Summary: target is 3961-4004 by 9/8/2023 - 9/15/2023. Alt target is 4004-4112 by 10/5/2023
- black trajectory is main/expected path
-blue trajectory is Alt path
There is a lot more that goes into this, but all the most important aspects are in this chart.
The red and yellow trendline is a proprietary trendline that represents B-wave territory (above/left of line), and C-wave territory (below/right of line). An equal and opposite angle trendline will dictate the price action trajectory toward target.
- we are trading below the breakdown level in C-wave territory
- another rejection at or below 4522 will be very bearish and a more explosive selloff will begin
- the alt path will occur if price gets back above 4522 and there will likely be a retest of previous support trendline (maroon line), a rejection here will send it back down and a re-break of 4522 will set this in motion with a delayed time to target.
Grrr. Sep and Oct puts all day. Not Financial Advice
- black trajectory is main/expected path
-blue trajectory is Alt path
There is a lot more that goes into this, but all the most important aspects are in this chart.
The red and yellow trendline is a proprietary trendline that represents B-wave territory (above/left of line), and C-wave territory (below/right of line). An equal and opposite angle trendline will dictate the price action trajectory toward target.
- we are trading below the breakdown level in C-wave territory
- another rejection at or below 4522 will be very bearish and a more explosive selloff will begin
- the alt path will occur if price gets back above 4522 and there will likely be a retest of previous support trendline (maroon line), a rejection here will send it back down and a re-break of 4522 will set this in motion with a delayed time to target.
Grrr. Sep and Oct puts all day. Not Financial Advice
Note
Next stop will be 4180-4270Note
We call this price action "Bulls and Pigs get slaughtered"Note
From my perspective, price gets drawn to the dashed red/solid yellow line. This is the basis of my method and major driver for target projection. Any deviation above or below that line will correct back to that line on way to target. It is a proprietary angle trendline.Note
Here are my resistance levels for next few days - they are steep:8/25 4381
8/28 4360
8/29 4320
8/30 4282
Point target is 4190 by 9/1, but if there is a sustained break of any of the resistance levels above it can delay target
Note
Look out below. We've exhausted demand in retracement by hitting resistance at the dashed red and yellow line.Expecting SPX to follow the solid blue path from here, extending 4000 target to late Sep/early October
Note
Risk on for a gap down to 4462 or lower next monday 9/5 and then continue down from there.Note
This will be trading in the range of 4182-4213 on 9/21/2023Note
min target by 10/6 is 4160. Break back below 4266 today will crash itNote
Still on track for target range of 3961-4160 by end of this week (10/6). I'll be taking half off puts at 4160 and letting remainder ride to try and catch 3960s. Lot of haters when I first posted this, take notes!!
Note
This will be a bloodbath starting at 10 am today (10/4). Straight drop to 4160 minimum, but can continue to low 4000 if panic selling kicks in
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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.
Related publications
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.