Ron M Morin

Wave 5 of (1) in SPX has begun

FX:SPX500   S&P 500 index of US listed shares
66 4 3
This wave 5 should take us to new lows and it should happen in a week or two. Look for signs of panic (high TRIN             between 4 and 5, and elevated VIX             maybe 30/35). Stay alert. When wave (1) ends, wave (2) UP starts and it will have an attitude. Don't get in the way. Of course, all of this is prelude to wave (3), which is what we all live for. Oh, there may be some kind of bounce on Monday, but it shouldn't last too long. Look for a five wave pattern from yesterday's high to help you identify the bottom. GL
a year ago
do you have minimum target on 1 of 5?
Ron M Morin d1gopher57
a year ago
Yes--1823 the Aug 24 low
d1gopher57 Ron M Morin
a year ago
interesting, I wasn't expecting wave 1 down to as brutal. My thinking was a move down to fill gap near 192 SPY then the wave 2 counter to 2020, if not a bit higher. Lot of talk of the 2011 analog which saw 5 weeks lower on the final wave down. I don't think this should take more than 2.
Ron M Morin d1gopher57
a year ago
We'll see what happens now--thanks for writing.
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