Today is the 24th and as you may have watched in yesterdays video by Bo Polny this is an important day. However, only God knows the exact day but it should be before September ends. I can say for certain that "if" millions of people disappear in 24 hours the stock market is going to crash. It's not going to hold at the 2 lower FP's I have of 640.44 and 588.79 on the SPY. Not in one day of course but we'll see a crash like move. Another interesting video is from Steve Quayle, who isn't a trader but was told by his sources that the market would crash within the next 1-2 weeks, and also Ed Dowd thinks the same thing. Steve still it will be a 50% crash, but again, he's NOT a trader or forecaster for the market. That's not his specialty. But I have to keep it in the back of my mind as "possible". Here's that video...
Great Tribulation Volcanos, Earthquakes & Tsunamis – Steve Quayle
Now if we don't see a Biblical event then I'd assume we'll pullback to the 640.44 FP on the SPY, bounce and then drop again to the 6000's area where support is at. This could be blamed on the Government Shutdown worries (or "event" if it does really shutdown?). Something will be blamed on it, and guessing is pointless as it could CPI numbers, Job Numbers, Powell saying something the market doesn't like... who knows? I'm patiently waiting though as some big is coming, and this month is the most likely period for it to happen. If it's mild, and just a technical pullback, then we should see a bullish October with much higher prices. If it's Biblical then look out below!
Have an blessed day.
