Longer term its in bear market.
Short term mid range, hard to make a good reading for either up or down move.
My best guess we will see 4k and go down to 3875 if not 3750.
One thing to note/repeat is EOM will be very strong in selling, at least thats how I see it, and the bottom wont come till the 1st of Dec.
My pathway is lower into 22-24th, up into the Cyber Monday and very strong down move into Dec 1st low.
I dont see any Santa Rally. Too many still hoping for one and I have a feeling its not coming, but will be lower into at least mid of Dec low!
Then a rally into mid Jan high and continuing much lower (strongest move with VIX capitulation) into Mar low,
After that Im going to trade mostly in upside into May and then Aug high.
Level for tomorrow to watch is the same it was for the whole last week - 4010.50SPX
Rejecting it one more time will be a perfect short or exit for a move to 3750SPX
Ideally we have one more spike to 4007SPX or so and hard rejection.
Have a profitable week everyone and dont get trapped after Wed Fed shenanigans (ideally a fake rally and sell from there into 24th low)
Short term mid range, hard to make a good reading for either up or down move.
My best guess we will see 4k and go down to 3875 if not 3750.
One thing to note/repeat is EOM will be very strong in selling, at least thats how I see it, and the bottom wont come till the 1st of Dec.
My pathway is lower into 22-24th, up into the Cyber Monday and very strong down move into Dec 1st low.
I dont see any Santa Rally. Too many still hoping for one and I have a feeling its not coming, but will be lower into at least mid of Dec low!
Then a rally into mid Jan high and continuing much lower (strongest move with VIX capitulation) into Mar low,
After that Im going to trade mostly in upside into May and then Aug high.
Level for tomorrow to watch is the same it was for the whole last week - 4010.50SPX
Rejecting it one more time will be a perfect short or exit for a move to 3750SPX
Ideally we have one more spike to 4007SPX or so and hard rejection.
Have a profitable week everyone and dont get trapped after Wed Fed shenanigans (ideally a fake rally and sell from there into 24th low)