SPX longer term update
This is a quick update with levels of importance.
I will update in more detail those who are on my email list, cant do it all.
So
I think we will see a really this week and I have 2 targets - 3880 and 3960-90SPX
Both are good for the lower lows to come sometime mid of the month, ideal bottom target is July 14-18th.
The top in 3960-90 zone actually better fit with expected by me 3500 test.
3500 is a very important level and failure of that level will get us to 3200 very quickly.
Off that expected low, Im expecting a good size rally, maybe a month or month an half (into end of Aug) all the way to 4300 and maybe even 4425SPX.
From there we will see either 3200 or 2900-2800 (depends on the July bottom 3500 and 3200 respectfully) sometime in Oct.
That low alone will be a one big A wave of the correction and the bigger B wave will go up into Jan and final low might come in Mar of 2023, unless its really extended and we wont see the low till 2024. But its too far out to speculate at this point.
So my this week trading plan is to exit longs at 3880 and it taken out re-enter to ride to 3960-90 zone and then I will be naked short for the trip down to 3500 zone.
If we lucky to see 3750-60 tomorrow, then I will be long for the trip to 3880 at min.
I will update in more detail those who are on my email list, cant do it all.
So
I think we will see a really this week and I have 2 targets - 3880 and 3960-90SPX
Both are good for the lower lows to come sometime mid of the month, ideal bottom target is July 14-18th.
The top in 3960-90 zone actually better fit with expected by me 3500 test.
3500 is a very important level and failure of that level will get us to 3200 very quickly.
Off that expected low, Im expecting a good size rally, maybe a month or month an half (into end of Aug) all the way to 4300 and maybe even 4425SPX.
From there we will see either 3200 or 2900-2800 (depends on the July bottom 3500 and 3200 respectfully) sometime in Oct.
That low alone will be a one big A wave of the correction and the bigger B wave will go up into Jan and final low might come in Mar of 2023, unless its really extended and we wont see the low till 2024. But its too far out to speculate at this point.
So my this week trading plan is to exit longs at 3880 and it taken out re-enter to ride to 3960-90 zone and then I will be naked short for the trip down to 3500 zone.
If we lucky to see 3750-60 tomorrow, then I will be long for the trip to 3880 at min.
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