If you look at the monthly chart it will tell you a different story. I think S&P will bounce to .618 fib or $4370 levels on monthly chart and trouble will come between late October and late December. Do not play guess games and follow the chart. I am bullish short term :)
We might seeing around 30-40% pullback in commodity prices in the coming days which will be a buy of a lifetime opportunity because after this pullback I don't think we will ever look back while the world will be heading into a new place.
There is a possibility that the FED will come out and raise rates Tomorrow during the emergency meeting. With the bear flag currently forming, I would say it's highly probable that they WILL raise rates on Monday during emergency meeting... This is not to say I am bearish on gold. I am extremely bullish on gold long term. But in short term I am bearish. If you...
We will likely have an impulsive waves down. It's going to be fast furious imo. 2020 March top was the end of 5th wave and we would've had real crisis but because of central banks we had a blowoff top instead which will be follow by violent crash in impulsive style IMO
The formation is there but we need to see follow through. I think it will most likely follow through if the FED raises rates and that will smash the commodity prices including oil. Protect yourself with some puts would be a good move.