Heading to 440s early next week

Prepare for big selloff to start around 2:30pm-3:00pm today. Netx stop is 444-447.

Then bounce to 450 w/AAPL/AMZN earnings, but then continue down from there.

Top of this B-wave is forming.

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Below 450.50 is bearish territory.

Crash setup on chart + the fitch downgrade gives perfect opportunity to short at will.

SPY end goal is 270-290 by early 2024. This will get ugly fast.

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A break here below 447 can see crash like follow-through.

Next downside targets (conservative) are 438-442 by 8/11

Can get hit as low as 418-427. Brace yourselves. If you're already in puts, don't sell - gap down next monday.

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Goodopportunity to be accumulating Sep 1 puts going into CPI. Bears have this.

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My point target for SPY is 397 by September 8th 2023. I'll post an updated idea soon.

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Posted cleaner chart with SPX with bigger picture main/expected path and alt path

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From here we start the bloodiest month this market has seen since March 2020. R.I.P.

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Bears have it below 444.58.

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Markdown phase is here. Next stop 418-427, point target 423 by end of next week.

On track to hit 397 goal target by mid December.

If the 397 hits I expect consolidation/bounce before making final move down to at least 339 in early 2024 (but could go as low as 270-290).. focusing on 420s for now

JerryManders

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JerryManders