Similar to my last projection below but with higher target:
The Recent Drop Makes SPX500 Slightly Less Likely to See all time high again. A marginal double-top is more likely now.
Could it be like this as the end game? Only God knows.
Only the Toughest Bears Can Survive and prosper in this market... This is the latest update of my SPX500 projections.
After today's big move up, I raised the target of the upcoming pullback to 2800, as 2700 becomes less and less likely.
I can sense the sentiment change so here comes the updated chart over my last idea:
The 2nd will come but only after bulls give up.
Bears would like this idea a lot: 2020 marks a major top.
Last time I posted a bullish view, this time A Bearish View of the Airline Industry. I have to say this bearish view looks more and more likely.
The initial post ER trading could be tricky though. For example, the red path will point to an immediate sell-off post ER, only to be negated by yet another all time high soon after .
A quick recovery from the virus + unlimited QE could lead to new all time highs...but it probably won't last
Too much money printing will lead to disaster down the road...
If the coronavirus doesn't kill LUV, maybe high oil price will do
And that could be a big problem to the world economy.
If no lower low tomorrow then today's sharp drop should be the final washout.
To shake out the weak longs.