This is the week where "if" we are going to get a good pullback it should happen during this period. Unless something really crazy happens I'm only looking for the 640.44 FP on the SPY to get hit and pierced. But, it needs to happen quickly for it to be "the low", as if it's too slow the door will be open for it to "only" be an A wave with a B up into the 29th-3rd, and a C down to possibly the 588.79 FP into early October.
I don't give that high odds right now, but it's possible. This all assumes we have topped with the high last Friday, or will top out into the 6800 resistance zone. The ES got within 70 points of it, so it could have one more push left in it, but it could also fall shy and have topped already. The SPX hit 6666.50 during the last half hour of Friday and held that high until the las 5 minutes where another push up higher to 6671.82 happened, then as the last minute it pulled back to close at 6664.36, which certainly stands out with the ritual number.
But I don't think it's "the top" like the March 6th, 2009 low of 666.79 was "the bottom". We still have the big wave 5 up yet to come where we should see 7400+ happen, and likely into early 2026. But if it was to do it into this November I've have to say we've topped early. That's all too far into the future to worry about for now. The only thing I'm interested in is this week as I want to see the pullback happen.
Have an blessed day.
