I want to examine the past a little today as while (again) I never know the "when" part that any real FP gets hit they eventually hit, and a "turn" happens the majority of the time. Some turns are big and others small but turns do happen. I have to use technicals to guess at how big the turn will be and I think it's obvious to everyone now that this market is very overbought now so the turn coming should be a big one.
When you look at the chart above you can see that the two FP's on the SPY from last year that I found on the Yahoo site did finally hit, and they hit perfectly and reversed hard afterwards. I have no reason to believe that the upside FP of 655.66 isn't going to be hit either. I don't know the day, but it should be this week. Maybe before NVDA earnings this Wednesday after the close, or after it? I don't know which but once it's hit we should see the market peak and rollover for the next 2 weeks. Patience is key here and those that wait will be rewarded.
Have an blessed day.
