SPX: Bulls Take the Stairs; Bears Take the Elevator (part 2)
Updated
Ok we are nearing the top floor of this trip
Our trip down will be a little more "hurried" than our trip up
Buckle Up!
P.S. if you don't like to ride the elevator down then there is another one about to head up over on TLT :)
Our trip down will be a little more "hurried" than our trip up
Buckle Up!
P.S. if you don't like to ride the elevator down then there is another one about to head up over on TLT :)
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Critical junction for the market up aheadAre you ready?
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Market crash in progressBuckle Up!
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Ok looks like we were wrong...for now
The market decided to change its mind on crashing right now and instead head to new all time highs
A pullback is imminent so looking for the Fed news this week to provide a catalyst for that move lower
How that move takes shape will decide the rest of 2024 and beyond
With that said even if we get new ATHs the ultimate fate of the market is the same...a depression level environment that sees the S&P500 at sub-2000 levels.
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if we get new ATHs this is where we should topAgain, new ATHs do not change the ultimate destination...just means we decline from a higher price.
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Looking for an extremely imminent pullback in the S&PIdeally 1st support will hold and then we head higher to new ATHs
Ultimately the 2nd support needs to hold if we want to see those new ATHs
Any sustained break of the 2nd support opens the door to much larger sustained downside risk
BUT REMEMBER: Even if we get new ATHs the destination over the next 5-8 years is SUB 2000 with expected levels reaching as low as 666-1500 spx
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If Support holds then we should head toward ATHsIf Support breaks we will head towards 4600
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Highly suggest you take note of the Targeted Topping ZoneMarket structure is suggesting that we may not get too far above that zone on this move.
In fact we may not break that zone at all
Essentially we are saying if you look at what we have been predicting with the broad markets price may not touch this zone again for a decade
Trying to sound the alarm here
We sincerely hope this analysis is wrong because we are not sure the vast majority of people understand the true nature of what we are facing in this country and throughout the world
Please Please Please get prepared
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Get Ready!Note
Tweaked the targets a bitNote
ALERT!!!The break of the 5100 level today and the move lower is the huge sign that a major top has been established in the market
BUT even if new All time highs are made we still think the market will find a major ceiling between 5300 and 5400
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Near term expectationsNote
Lets see how this plays outNote
Market generally progressing as expected.Its possible all of Wave (C) is complete but the market appears to still want to rally a bit
Lets see
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Zooming out a bit to better see the move we are trackingNote
Ok its pretty clear to us where price is most likely headedSlightly tweaked the count.
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CRITICAL MARKET SUPPORT AREASThe market appears to be setting up for a significant downturn
We are expecting that downturn to begin by the end of this week/ early next week
This could be really ugly
PLEASE TAKE CAUTION
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CRASH ALERT!!!BE CAREFUL!!!
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One last push higher and we should see price fall off a cliffNote
IWM about to go down in flames!!!Note
Ok we are in the target crash zone.We are on high alert for a significant downturn...i certainly hope we are wrong because this going to be UGLY
Expect one more smaller push higher and then watch out below
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Price pushed higher as expected. BE CAREFUL!
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Get Ready
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