Expected Structure for SPY to complete C wave

7 ก.ค. 2023

We are nearing the completion of a B wave retracement off the October low. If SPY breaks back below 440 and 431, expect the following (solid black path):

- Drop to 425-427 by as early as 7/14
- Bounce to make lower high around 439-440 by as early as 7/21
- Drop to 395-405 by as early as mid-August
- Final Bounce to 425-435 by early September
** Crash to at least 348 to complete C wave by Q1 2024 (could happen as early as September/October 2023 but will depend on when steps of projected structure are realized).. Bottom could be as low as 270-290.

If SPY makes a new high in coming week it could run to 452-456

Trade with caution if you're bullish. Take profits at intermediate levels on way down if you're bearish (until we breakdown 395)

7 ก.ค. 2023

บันทึก

Entering 7/21 437 puts at 2.16. Stop loss underlying 443.

7 ก.ค. 2023

บันทึก

On the 3rd dash point (-) I meant to type drop to 395-415. However, I will adjust these subsequently based on the levels realized along the way.

19 ก.ค. 2023

บันทึก

Took bullish path (dashed green trajectory) first and hit 456. Expecting down from here to the 425-430 region to kick off this distribution sign of strength. Will bounce again fro there on backup/retest and then start markdown in August or September.

27 ก.ค. 2023

บันทึก

wouldn't be surprised if this crashed from here... reasonable targets 444 (if 450 breaks down), 431-435 if 444 breaks down