SPX Roadmap July 2024
Topping phase has begun at the exact level it was expected to start
Nota
So far so goodNota
Target reached pre-marketNota
It is a bit too strong too fast hereNota
Bulls are so impatientNota
Ideally SPX gets to around 5725Nota
The battle below the Iron Dome continuesNota
Getting thereNota
Quite a grind up here into the Iron DomeNota
Entering Oct exactly as expected in price and timeNota
Mid Oct price level reached. However, the price structure does not look complete, so this may extend a bit to the upside stillNota
The main objective has been achieved. However, the price structure still looks unfinished which calls for upside extension. Either way, the bull cycle reached the 2 yr mark. So from time and price perspective, it should be extra time nowNota
Good reaction from the Iron DomeNota
Dow appears to be forming initial 5w down which could be a precursor to a larger decline. Still uncertain whether this is done or one more final Trumpian highNota
So we had an initial breakdown this week across indexes, but still higher support levels are intact. Therefore, still uncertain whether an important Top has been made or one more Trumpian high aheadNota
One more Trumpian high is early in the makingNota
Not much above really, lets see how it goes into ThanksgivingNota
LIkely into 6150sNota
SMH argues for one more corrective high since the Aug low reminiscent of the SPX pattern the first 8 months of 2000
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