Though the correction and market reaction was expected for macro economic conditions, did not anticipate such severe and sharper decline. This doesn't mimic regualr circumstances like healthy and organic correction, rather it mimic covid and 1987 flash crash.
I started to feel now we may repeat 1987 thus may see more downtrend next week or two and slowly world...
NIFTY is showing the pattern of 2015-2016 asking for a deep correction to digest the profits in last few years and providing another opportunity to early birds later in the summer.
It feels like NIFTY is leading indicator starting correction from Q3 in 2025 and probably would hit the bottom too early compared to US equities.
It seems S&P is going through a soft bounce back after selloff towards 10W MA around 58-5900 levels. This could be the strong rejection leading to summer lows around 52-5300 range .
If Macro is promising could resume bull run by providing good entry otherwise a recovery towards 5600 which eventually sees 4800 or 2021 ATH making a long range for 4-5 years...
SPX respecting 21 Weekly Moving Averages and in steady uptrend . Expecting to continue the same and top around early September towards 5700+ and cool down to 21 WMA
S&P short recovery before 52-5400 , If the trend from 2015-2016 repeats, we are due for a short recovery towards 5900 or 10MA and then follow for a larger correction by summer.
If things look good at Macro level that would be great opportunity to resume bull cycle otherwise short recovery towards 5400 and following for a 2021 ATH 4800 area to complete bear market...
BTC appears to be respecting 10 Month Moving Average. My primary view is to hold this and resume reversal in the coming days to test 65k resistance once again
