Black Monday December 28th, 2020?
I think something BIG is about to happen over this weekend. There are just too many clues in the numbers over the last weeks, as well as a market that ripe and ready for a surprise drop. Yesterdays drop was just a warning shot across the bow of this sinking ship. Next will come the first direct hit, which I think will drop us to just under the 3000 SPX level by the middle of next week.
But first there's a new upside FP on the SPY that needs hit first. It should be today by the close if all goes well, and for this BLACK Monday to happen. A steady rally up all day is what I'm hoping for. It's for about 3780-3790 on the SPX and that is the short opportunity of a lifetime in my humble opinion. The drop we had yesterday, with the recovery back up the rest of the day, looks a lot like the February 18th, 2020 move to me... except larger in range.
Today should be equal to February 19th, which marked the high before the huge drop into March. This coming drop should pierce the 3000 level next week on the first move down, which I think will be similar to the February 28th, 2020 low.
Back then the market bounced for four days before plunging hard again into the March 23rd low. I do expect a bounce from this sub-3000 level but it might only last one day this time around. The target is about 3300 or so and should be hit (if all goes well?) on the 30th of this month I believe. Just my best guess so don't hold me to it. But if it happens then the last day of this year we should see it pullback some but stay above the closing price of last year, which was around 3230 on the SPX.
After that all of January should look like a blood bath. I mean non-stop selling with only a pause around the 2400 area in the week of the monthly options expiration. By the end of the month we should be below 2000, but I'll know as we get closer and if this happens as planned. My actual downside target for the low is much deeper but I'm ready to say yet what that level is. Believe me, it will shock you.
I'm including all the recent strange numbers that have shown up recently in this post. I'm not some expert at numerology so I don't fully understand what they mean. But I'm sure real insiders know their meaning. For me there's already lots of other evidence that tells me something HUGE is about to happen. This weekend should start it all. May God Bless America and keep President Trump safe during this crazy period.