I don’t think we’ll see any major bull trap until the next big rally up for my larger B wave, which should last a month and take us into September sometime, possibly October? It depends on how long it takes for the market to find a bottom for this larger A wave, which I think will be finished by the end of next week.
If so, then we’ll rally into mid-September most likely and we could see a double top or even a slightly higher high to fool everyone into thinking the correction is over with. But the technicals tell me we have another larger drop coming for a C wave, which could go into the low-mid 4000 range… hard to say right the target. But I don’t think we finish the complete correction until late September at the earliest, probably October. After that we should rally into 2027 for the big 1929 style top.
I too think we bounce for a few days but I see another lower low before the real bottom is in. I still think it’s possible that we hit the prior FP’s on the Yahoo site at 483 on the SPY.
I think the next few weeks will be choppy in a 200 point range up and down. August is when I think we see an important high before a pullback of 8-10% into September.
My birthday is August 10th, so I’m right behind you it seems. I’ll be 60 but feel like I’m 40. Happy birthday to you my old friend.
If we rally into the FOMC this Wednesday I think it’s a short.
I think they are going to drag this out into November where we top out at and start a recession.
I think we are going down into late next week and then one more rally back up into the first week of September, and then we get a nasty drop.
I don’t think we’ll see any major bull trap until the next big rally up for my larger B wave, which should last a month and take us into September sometime, possibly October? It depends on how long it takes for the market to find a bottom for this larger A wave, which I think will be finished by the end of next week.
If so, then we’ll rally into mid-September most likely and we could see a double top or even a slightly higher high to fool everyone into thinking the correction is over with. But the technicals tell me we have another larger drop coming for a C wave, which could go into the low-mid 4000 range… hard to say right the target. But I don’t think we finish the complete correction until late September at the earliest, probably October. After that we should rally into 2027 for the big 1929 style top.
I too think we bounce for a few days but I see another lower low before the real bottom is in. I still think it’s possible that we hit the prior FP’s on the Yahoo site at 483 on the SPY.
I think we are going higher by the end of the week. Probably the 5600 area.
I don’t think we’ll see a 1929 style crash until 2027. I think Charles Nenner is right on the big picture. https://usawatchdog.com/super-bull-market-in-gold-about-to-start-charles-nenner/
My thoughts… http://reddragonleo.com/wp-content/uploads/2024-07-25-16_27_13-SPX-Charts.png
I think the next few weeks will be choppy in a 200 point range up and down. August is when I think we see an important high before a pullback of 8-10% into September.
My birthday is August 10th, so I’m right behind you it seems. I’ll be 60 but feel like I’m 40. Happy birthday to you my old friend.
I do see a pullback coming but it could be just another “higher low”, as I see 2 FET’s now around the same zone. http://reddragonleo.com/wp-content/uploads/2024-06-12-14_31_52-_ES_XCME-Charts.png