[SPX] Still Lookin for a 3500 Retest before DOOMSDAY Descent!
I've been predicting a drop and bounce in this window for weeks now.
We got the drop, just waiting on that bounce.
C'mon BULLS... lets see that final Bullgasm!
I expected Price to get down to 3300 here but 3330 bottom was strong in a lot of other analysis I saw. Sounds like a lot of people expecting it to drop a lot if it broke under that.
So here we are, maybe we get a double bottom bounce back to 3500? Or maybe it goes down to 3300 before bouncing? (that'd be cool)
Alternatively we could get a crash, which is also inline with a lot of other analysis here, but Volatility looking pretty stable right now so not expecting too much downside for the next week or two. My Volatility Matrix would likely already be throwing some clearer, stronger BUY signals if we were gonna crash tomorrow or early next week but currently it's Neutral.
By end of September though Volatility will be spiking in line with a bigger crash than we saw last week:
![[UVXY 2H] Volatility Treasure Map: New Upchannel to Pot of Gold!](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
Gonna munch some popcorn and kick back for now, will add in some Volatility TPs when it's lookin like the next spike is starting. Still need to collect a bit more data on that front.
Happy harvests! B)
We got the drop, just waiting on that bounce.
C'mon BULLS... lets see that final Bullgasm!
I expected Price to get down to 3300 here but 3330 bottom was strong in a lot of other analysis I saw. Sounds like a lot of people expecting it to drop a lot if it broke under that.
So here we are, maybe we get a double bottom bounce back to 3500? Or maybe it goes down to 3300 before bouncing? (that'd be cool)
Alternatively we could get a crash, which is also inline with a lot of other analysis here, but Volatility looking pretty stable right now so not expecting too much downside for the next week or two. My Volatility Matrix would likely already be throwing some clearer, stronger BUY signals if we were gonna crash tomorrow or early next week but currently it's Neutral.
By end of September though Volatility will be spiking in line with a bigger crash than we saw last week:
![[UVXY 2H] Volatility Treasure Map: New Upchannel to Pot of Gold!](https://s3.tradingview.com/o/OZ6zFUqw_big.png)
Gonna munch some popcorn and kick back for now, will add in some Volatility TPs when it's lookin like the next spike is starting. Still need to collect a bit more data on that front.
Happy harvests! B)
Data analyst with a passion for best fit lines B)
Related Ideas
Retest of 3500 seems quite unlikely at this point. I'm thinkin it holds around 3300-3350 Monday before it breaks under and we get some waterfall mid-week.
Once Big Money leaves the game there's just not much Retail can do to save anything, especially as their accounts increasingly enter the red zone.