SPX Roadmap July 2024
Topping phase has begun at the exact level it was expected to start
Note
So far so goodNote
Target reached pre-marketNote
It is a bit too strong too fast hereNote
Bulls are so impatientNote
Ideally SPX gets to around 5725Note
The battle below the Iron Dome continuesNote
Getting thereNote
Quite a grind up here into the Iron DomeNote
Entering Oct exactly as expected in price and timeNote
Mid Oct price level reached. However, the price structure does not look complete, so this may extend a bit to the upside stillNote
The main objective has been achieved. However, the price structure still looks unfinished which calls for upside extension. Either way, the bull cycle reached the 2 yr mark. So from time and price perspective, it should be extra time nowNote
Good reaction from the Iron DomeNote
Dow appears to be forming initial 5w down which could be a precursor to a larger decline. Still uncertain whether this is done or one more final Trumpian highNote
So we had an initial breakdown this week across indexes, but still higher support levels are intact. Therefore, still uncertain whether an important Top has been made or one more Trumpian high aheadNote
One more Trumpian high is early in the makingNote
Not much above really, lets see how it goes into ThanksgivingNote
LIkely into 6150sNote
SMH argues for one more corrective high since the Aug low reminiscent of the SPX pattern the first 8 months of 2000
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.