S&P 500 IndexLong
SPX; If 4200 doesn’t hold, 3820 will the the bear mkt boundary
The average of the 24 SPX corrections in the last 47 years is 13.7%. As of now, it has already exceeded this average so just maybe 4114 was the bottom for now.
Sunday pre-market SPX gapped down more than 2 % before a bounce. If 4200 will not hold this week, we may see a lower low. The word “NUCLEAR” in the news had triggered AI Algo selling of hedge funds.
I dont think we will see anything lower than 3800 which is the bear-bull boundary line. 3800 is also the measured move down if the H & S pattern plays out. That may be the final FEAR needed to flush out all the weak hands before any true rally.
We still have to see a new melt-up top to come before this market tanks sometime this year.
Not advice but trade cautiously due to violent swings ahead.
Sunday pre-market SPX gapped down more than 2 % before a bounce. If 4200 will not hold this week, we may see a lower low. The word “NUCLEAR” in the news had triggered AI Algo selling of hedge funds.
I dont think we will see anything lower than 3800 which is the bear-bull boundary line. 3800 is also the measured move down if the H & S pattern plays out. That may be the final FEAR needed to flush out all the weak hands before any true rally.
We still have to see a new melt-up top to come before this market tanks sometime this year.
Not advice but trade cautiously due to violent swings ahead.
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