The market held its' move up yesterday from the low on Tuesday. I don't know the "when" part but I still think we will hit the 655.66 FP before we top. Possibly it hits tomorrow or next Monday? Those dates are the most likely as the market tends to pullback into the 2nd Thursday/Friday (next week) of each month to put in some kind of low before a move up into the 3rd week of the month where OPEX is at.
Now again, I'm not looking for much on the downside next week if we get the top early next week, but it could turn out to be an A wave. Then we get a B wave up into OPEX week as the market will likely be in a choppy mode into the FOMC on Wednesday the 17th. That B wave could trick everyone thinking that if Powell does a cut the market will rally, but if we hit the 655.66 FP beforehand I have to think any rate cut will cause the nasty C wave down into the 22nd-24th where we "could" hit the 588.79 FP on the SPY? At least we should hit the 6100's I think. As for the short term, I don't have much to add. We should float higher into tomorrow or Monday where we should (hopefully) reach the 655.66 FP on the SPY.
Have an blessed day.
