IF my interpretation is correct we are at a major critical point. If the last 5 waves up (since 2009) is 55 then we are in for long term major turmoil and depression. IF this is just the first wave of 55, then after a recession we may then move again toward prosperity, and peace.
In the USA our politics are at a major critical change point. Basically will we have one party rule or continue to have a (Congress, Executive Branch, and Judges.) ?? Will we continue to have peaceful transfer of power where the losing Party concedes a loss and just works to win the next one? Socialistic ideas and people have now basically taken over the public education system, many of the judges, many Churches, and much of the Democratic Party. Anti President Trump groups have stated that if Biden doesn't win "We will burn it down". I have no reason to think they won't do it. If the Democrats would win the House , the Senate, and the Presidency then have already indicated changes they could make to basically control everything for years to come. For all of us I truly hope I'm wrong. But we are in dangerous times so be careful, be loving, and be prayerful ( if you pray).
As always process your way. And have a great week ahead.
With that said, I do believe we are headed downwards. I don't think the SPY will reach the bottom of the expanding triangle. I have a put in the market and plan on selling them when I see higher highs and higher lows again, or when price action reaches a specific Fibonacci retracement level in retracing the big move from March to September. I suspect we'll reach a market bottom around the end of October to mid November.
Then, I'm hoping we launch onto another bull market, but it's all about waiting and seeing. It might head downwards after the election. It could trade sideways. I'm not going to try and predict that. My trading strategy will be reactionary.
But hey, "bulls take the stairs, bears take the window." Now's a good time to buy some puts and make some money $$$ (this is not financial advice lmao)