Description
⋅ ES SPY SPX preparing for a substantial Drop.
We are anticipating 2 thrusts lower towards the 200SMA.
It's been well over one year since we've seen a test of this
level.
For now, we are simply seeing further distribution on low volumes.
A number of Divergences will complete this week after trading into the
UTL (Upper Trend Line) and bring about the correction.
Trading to and through the 50SMA will confirm the larger trade lower.
Complacency is at higher than usual levels.
The BULLs don't see this going down, not believing it can drop.
The BEARs lose hope as they have been repeatedly beaten.
Perfect environment... for those of us waiting for Fills at out levels.
Empire State Manufacturing simply confirms what we have suggested
for some time - Global Economic Activity is collapsing.
There should be a dramatic drop soon, followed by a reversal to
New All Time Highs.
May profits be yours, they are here for the taking.
Patience, it's here.
3588 is the must hold level, 3798 is our preferred level.
roughly 3600-3800 is the desired Target Range.