I will enter an 50% position here in the SPX .
Only 50% because there is still a chance it's going to drop down to the 100 MA / 100 EMA at around 2590- 2600 on the weekly chart. If we tag 2600 I will enter the other 50%.
I don't think the bull is over but it's the last serious decline before we enter the parabolic stage.
RSI6 is printing divergences.
We tagged the 400 EMA today.
The FED will not be able to hike this December with a collapsing market.
Powell will need to start to talk down the dollar it will help stocks to recover fast.
The easiest way to start to question the 4th rate hike this year. I bet they will follow this way. Trump will not let the market collapse ahead of the election.
They can do anything with him except one thing: stock market crash in the middle of his presidency.
Only 50% because there is still a chance it's going to drop down to the 100 MA / 100 EMA at around 2590- 2600 on the weekly chart. If we tag 2600 I will enter the other 50%.
I don't think the bull is over but it's the last serious decline before we enter the parabolic stage.
RSI6 is printing divergences.
We tagged the 400 EMA today.
The FED will not be able to hike this December with a collapsing market.
Powell will need to start to talk down the dollar it will help stocks to recover fast.
The easiest way to start to question the 4th rate hike this year. I bet they will follow this way. Trump will not let the market collapse ahead of the election.
They can do anything with him except one thing: stock market crash in the middle of his presidency.
Comment:
I tried to insert the weekly chart into the text but was not working, so here it is again. Still chance to tag the 100 SMA /100EMA.
