SPX: We Had a Flesh Wound. The 'Bull Run' Completes in October.
Hello Everyone,
Been voraciously busy with the "return to work" life and haven't posted on TV since basically late June but I have an update on Gold to share.
Hopefully everyone has remained healthy and remains financially stable.
--
Currently the SPX is following almost the exact same pattern since I last posted in late June and has overall been following my pattern since way back in early April.
The SPX is currently on its final leg in a Wave 5 which will complete in the first half of October anywhere from 3811-3930 (with a best guess somewhere around 3810-3830ish). Therefore, there is not a lot of "juice left" before a sharp ABC corrective wave.
How deep the wave goes depends on too many unknown fundamentals and remains too far in the future to forecast. All advanced EW points to at-least a re-test somewhere in the mid 2600s by Q1 2021, and while lower is possible, saying so at this point is pointless until at-least the A wave of the ABC corrective wave completes.
--
The most important part of this weeks "sell-off" is two fold:
1) You don't need "news" or an "event" to trigger a sell-off. The market is algorithmic.
2) Wave 3 is now complete. Therefore, most of the "gains" (i.e. March and up until this week) are now over. The bull run now has "weeks" left, rather than months and years.
You will have low-key hints the bull run is nearing completion if FANG stocks fail to make a new ATH within two or so weeks from this upcoming Tuesday.
--
zSplit
Been voraciously busy with the "return to work" life and haven't posted on TV since basically late June but I have an update on Gold to share.
Hopefully everyone has remained healthy and remains financially stable.
--
Currently the SPX is following almost the exact same pattern since I last posted in late June and has overall been following my pattern since way back in early April.
The SPX is currently on its final leg in a Wave 5 which will complete in the first half of October anywhere from 3811-3930 (with a best guess somewhere around 3810-3830ish). Therefore, there is not a lot of "juice left" before a sharp ABC corrective wave.
How deep the wave goes depends on too many unknown fundamentals and remains too far in the future to forecast. All advanced EW points to at-least a re-test somewhere in the mid 2600s by Q1 2021, and while lower is possible, saying so at this point is pointless until at-least the A wave of the ABC corrective wave completes.
--
The most important part of this weeks "sell-off" is two fold:
1) You don't need "news" or an "event" to trigger a sell-off. The market is algorithmic.
2) Wave 3 is now complete. Therefore, most of the "gains" (i.e. March and up until this week) are now over. The bull run now has "weeks" left, rather than months and years.
You will have low-key hints the bull run is nearing completion if FANG stocks fail to make a new ATH within two or so weeks from this upcoming Tuesday.
--
zSplit
