The market is just too tired it seems to hit the FP this week as we are in a tiny pullback mode right now. I think this will end by this coming Monday and then we'll make the last move into mid-late next week, or at worst early the first week of September. I don't think it goes into September but it's possible for sure.
Right now we are close to the 20 day SMA on the SPX cash and right on top of it on the ES, so I think this zone will hold into Monday to frustrate all the bears (and bulls). Chop basically into Monday and then we finally get a strong move up that makes a new high to hit the FP on the SPY. After that I think it gets ugly as I'm now thinking we will drop hard into September 18th in what will feel like a crash move. But one step at a time. For now we are still in a chop mode into Monday most likely.
Have an blessed day.
