Red

Possibly one more flush down tomorrow and then a rally into Thursday I think. So I’ll be shorting this Thursday for 2-3 weeks if it works out like this?

Looking like the set up is short for 2 weeks then I believe FOMC bounce. Distribution has been ocurring all year, so who’s gonna buy at these levels? Although all are waiting (impatiently) for a bounce, we should be sitting out til massive selling occurs for better entry point and odds. GL

SPX 4 hour chart: http://screencast.com/t/DOC0QwOxtpy
SPX 60 minute chart: http://screencast.com/t/qW7BHTwgNZ5

Blew right through that premarket low… LOL. Not a good time to be a bull I think! I will NOT be going long into Thursday but will just wait it out until then before looking for a 3 week short.

The premarket low today of 206.81 SPY should be tested today (or Tuesday morning?) and then I think we’ll see a bounce into Thursday.

I see a choppy rally into this Thursday. Then I think the next 3 weeks will be down, and down BIG!

Red, Looks like your call of an early start to the correction( vs.the October time frame) is looking very accurate. How do you see this playing out?

Last Friday produced a 5th HO signal (Hindenburg Omen). Keep in mind, it only means a correction/crash is ‘on the clock’. For past history read: https://www.technicalindicatorindex.com/subscribers/guest-articles/Main%20Line%20InvestorThe%20Past%20Performance%20of%20the%20Hindenburg%20O%85.pdf

Yes, this panic selling should end Monday (Tuesday at the latest), and then a rally into Thursday where I’ll look for a short into July 31st.

you thinking 1 day crush, then bounce Tuesday into Holiday?