Getting really close now to a breakout squeeze. I don't know if it happen into this Friday or drags out into early next week but once it happens it should get every bear out of the market and all the bulls calling for the bottom to be in... but it's not. There's another move down coming in early May where the low should be tested and take out a little, and it might drag into mid-May, but really should be "mostly" over with by the second week most likely.
Like maybe we bottom on the 5th-7th, then do some quick up's and down's until the 13th possibly, and then we see the really rally start. For comparison of what I'm thinking is possible we can look at the 2/27/2008 date, which could be like the current high now. But I think we breakout and not just double top like back then did whereas that date was the same as 2/4/2008 basically.
I think we take out our current 4/9/2025 high and then we drop like back then from that 2/27/2008 high to the 3/11/2008 low. That might be like May 5th-7th next month? Back then that was a slightly lower low, which chopped at the bottom until 3/18/2008 before it broke out and rallied hard.
That could be like this coming May 13th or so? Now I don't expect our current market to follow what happened afterwards as I don't think the market tops until later this year. I fully expect to see a new high after the coming low, so I'm only pointing out that chop period as possible between the 5th of May up to maybe the 13th or so. Then we squeeze hard into July/August with 655.66 on the SPY as a likely target. For now though, we still have until next Monday or Tuesday, at the latest, for this breakout squeeze to happen I'd love to see it top tomorrow but we might need some kind of trigger (news event) to get it going, and predicting when that happens (or if it happens?) is impossible.
Have a blessed day.
