So close to new lows. DOW already made one last Fri. SPX to make today or tomorrow imo. Too many stops below that low Jun low, Im sure algos will shave those, before turn. Fear and Greed is at Extreme fear levels, VIX is above 31-32, perfect bottoming indicators to me
Below the support line (3662-58) we will see 3636-20 and my ideal target 3588
Im not going long till tomorrow
BTW ES already broken support and last night low and just needs a continuation
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Here is my Sep 12th update, check where is the MACD now
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watch 3662.50SPX on closing, if below tomorrow we see 3636-39
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Closed below the support! Lower levels tomorrow, must hold 3636-3639SPX on closing level. An intra day low to 3588 will be perfect and close above the support will be a good sign. Tomorrow Im buying G style!
3655, the bottom is NOT in! Great call again Tima, I did not make money today but didn't lose any either.....I'm flat and ready to buy it tomorrow! THANK YOU!
RealTima
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@bwellnatural, You're welcome! Tomorrow should be the day, at least for some bounce
Your 3588 target could be the end of the 3rd wave and then the bounce you mention into Oct 3 is the 4th wave bounce. After that, the rest of October is the final 5th wave down.
RealTima
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@ValueStudent, Can be, Im not an EW specialist. Today could be a lowest close for this week and tomorrow inta-day
snuiverink
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I like the extra comments under the charts really usefull. I will try to go long during the night monkeys using your levels. Lets see if we hit them tonight already. I am trading cfds ;)