SPX weekly closing day - Fri update
Hi everyone!
Im still battling with timing on the high and potential crash this/next month.
We either bottom this month, we have interest rate decision on the 21st and then up into Oct 3rd week where the turn suppose to happen and last into EOM or even Nov.
My timing showing a low in Oct/Nov.
There is a chance for us to see 4425! but the lows we just had must hold, then that high will be early Oct.
But there are several supper strong resistances to overtake:
- 4085
- 4125-35
- 4308
- 4385SPX
My fib calculation as well as previous calculations support this possible pathway, then the Oct/Nov low will be in 3240SPX zone!!!
- There is also a 61.8 retracement at 3195SPX off 2020 Mar lows!
- This move up will be a perfect C wave up of the bigger B wave in case we made A high in Aug (I have this pathway outlined in green count)
My main count is still to hold 4125-35 and ideally stretch to 4200SPX before serious selling into EOM.
- I have Panic month on Oct in SPX and Sep for the DOW. Interesting thing is SPX had a panic month on Sep as well, but cycles have moved it to Oct now.
But I want to be open for a potential screw up of the bears and making the bulls believe we are on the pathway to ATHs (again). That alone will screw up so many!
Ideally we make a higher monthly close in Sep and intraday high early Oct, then the cycles will match with the turn in Oct where we can have a huge sell into MidTerms.
- Then we should rally into EOY to do a damage control and top out in Jan. Im still battling about Santa Rally as this year is completely different from others.
- Also energy and food crisis in Europe might put a lot of pressure into the markets, unless there is a bigger war erupted and the European money will flow into the US. Which I do expect to happen next year or 2024...
So lets talk about tomorrow, so I can go to sleep:
Today's close was into the wall with last 10 min pump, that usually ends up in following day being red, at least first part of it. Also closed below intraday highs = not bullish.
- Needs a gap up above 4020 (and ideally 4030) or we should see lower levels tomorrow.
Im short into tomorrow from the close and some from AHs highs, half position.
Last few weeks we dump big on Friday's, will it repeat tomorrow? My bet is yes.
Tomorrow is a turning day!
Ideally we see a higher low tomorrow and reverse hard into last hour or 2 of the day and never look back, that would setup a move for much higher next week
Its VIX OPEX on Wed, triple witching week
200MA here on 4h chart is the ideal target for this move!
- Or 4125-35 and ideal at 4200+ for the top of this move this month
Tomorrow resistance is at:
- first resistance 4020SPX
- Main resistance to take 40350SPX
- 4085SPX is the closing resistance for higher levels early next week
The only real support I have now is low 3800 cluster, if we test 3885-3900 again it will slice it imo.
So lets see if they can push it up and save the day before and at least the OPEX and the interest rate decision on the 21st.
Have a good night!
P.S. Dont forget to like my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
Im still battling with timing on the high and potential crash this/next month.
We either bottom this month, we have interest rate decision on the 21st and then up into Oct 3rd week where the turn suppose to happen and last into EOM or even Nov.
My timing showing a low in Oct/Nov.
There is a chance for us to see 4425! but the lows we just had must hold, then that high will be early Oct.
But there are several supper strong resistances to overtake:
- 4085
- 4125-35
- 4308
- 4385SPX
My fib calculation as well as previous calculations support this possible pathway, then the Oct/Nov low will be in 3240SPX zone!!!
- There is also a 61.8 retracement at 3195SPX off 2020 Mar lows!
- This move up will be a perfect C wave up of the bigger B wave in case we made A high in Aug (I have this pathway outlined in green count)
My main count is still to hold 4125-35 and ideally stretch to 4200SPX before serious selling into EOM.
- I have Panic month on Oct in SPX and Sep for the DOW. Interesting thing is SPX had a panic month on Sep as well, but cycles have moved it to Oct now.
But I want to be open for a potential screw up of the bears and making the bulls believe we are on the pathway to ATHs (again). That alone will screw up so many!
Ideally we make a higher monthly close in Sep and intraday high early Oct, then the cycles will match with the turn in Oct where we can have a huge sell into MidTerms.
- Then we should rally into EOY to do a damage control and top out in Jan. Im still battling about Santa Rally as this year is completely different from others.
- Also energy and food crisis in Europe might put a lot of pressure into the markets, unless there is a bigger war erupted and the European money will flow into the US. Which I do expect to happen next year or 2024...
So lets talk about tomorrow, so I can go to sleep:
Today's close was into the wall with last 10 min pump, that usually ends up in following day being red, at least first part of it. Also closed below intraday highs = not bullish.
- Needs a gap up above 4020 (and ideally 4030) or we should see lower levels tomorrow.
Im short into tomorrow from the close and some from AHs highs, half position.
Last few weeks we dump big on Friday's, will it repeat tomorrow? My bet is yes.
Tomorrow is a turning day!
Ideally we see a higher low tomorrow and reverse hard into last hour or 2 of the day and never look back, that would setup a move for much higher next week
Its VIX OPEX on Wed, triple witching week
200MA here on 4h chart is the ideal target for this move!
- Or 4125-35 and ideal at 4200+ for the top of this move this month
Tomorrow resistance is at:
- first resistance 4020SPX
- Main resistance to take 40350SPX
- 4085SPX is the closing resistance for higher levels early next week
The only real support I have now is low 3800 cluster, if we test 3885-3900 again it will slice it imo.
So lets see if they can push it up and save the day before and at least the OPEX and the interest rate decision on the 21st.
Have a good night!
P.S. Dont forget to like my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
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