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UnknownUnicorn266486
Mar 6, 2019 3:27 PM

UPDATE: Candle formation is confirming for SPX500  Short

S&P 500 index of US listed sharesFXCM

Description

We need to close on the lows of today to have the conviction that we are moving towards the 61.8% fib retracement.
Comments
ReallyMe
I'm struck by the dull feeling we are moving much lower than that.
I think long-term S&P 500 might retrace all the way down to 2100 in three descending sub-waves.
UnknownUnicorn266486
@ReallyMe, Im always open to any outcome. If I have learned anything its that the markets will discipline those who believe they are correct. From a probabilistic view I do think there is still further upside to be had but again, I am open to the idea of a more bearish outcome.
ReallyMe
@ROB.Reynolds, Yeah, I agree. The reason why I say so is this: In my opinion we are in the corrective Wave 2 of a Supercycle.
How deep will it go? Well, last time Wave 2 retraced from 0.382 to 0.236 (Nov1980 - Jun1982).
So if my assumption is correct and we are in Wave 2 this time as well, then we should go down from 0.382 (2914) to 0.236 (2100).

You also might want to check my recent idea for a Long-Term S&P 500 outlook (bull run until 2036 etc)
UnknownUnicorn266486
@ReallyMe, Oh wow that's a HUGE call! I really don't have any real perspective over that kind of time horizon!

It certainly wouldn't surprise me if it materialized with all the uber bearishness out there!
kll
Good unbiased analysis.You r highly likely to be on the dot this time.Good you r Always look at the upside and the downside
UnknownUnicorn266486
Thank you @kll, have a great evening!
VisionCodeX
Much agreed. Always enjoy your commentary. Thanks. I may look to short AMD -- that chart is very bearish at the moment.

I'm actually a bit surprised the markets made it this far this fast, suggest to me that the plunge will be similar.

UnknownUnicorn266486
Cheers @Akhokhar86, you could be right! I never like to count my winnings before the fact! Lets see where we are in a few weeks.
VisionCodeX
@ROB.Reynolds, Yup. Quick take -- BA? If the market corrects, I think this name will fall pretty hard + it's overextended and rolling over. Though, AMD will likely fall harder. Curious how you see it.
UnknownUnicorn266486
@Akhokhar86,

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