Wall Street isn't going to abandon Hillary here, they're going all the way. Never mind that Trump is going to accuse her of High Treason in the debate next week ... and she might not make it through the evening.
We still have a 5th wave up left in this tragedy, and then we can blow it all up. Fed hikes in December and at the end of January, 2017.
It's too soon to tell; we have to break down through a few supports to confirm it. But the Deutsche Bank AG fun is the real deal. Maybe all the dogshit bonds Michael Lewis sold those guys in Liars Poker are finally coming due.
We ought to know in a few days, and I'll post the chart. I'm thinking we can get as low as 830 SPX by the end of the year. 830 is the trendline between the 1987 and 2009 crash lows, and we'll get there in a tidy five-wave impulse, IMO.
From what I can tell, Hillary did not seize up tonight or even die on stage, so this counts as a good night for her. With Fed doves speaking all week, some multiple times, we can now expect a strong move north.
I see it as a final thrust in an expanding wedge, a vertically-oriented megaphone, that can bring us to new all-time highs before the week is out. After that, anything can blow up and end the party, as early as this Thursday with the final Q2 GDP read. We could also hold out until the Friday close, so everyone can get paid before the weekend.
SPX 30D hourly
Over the weekend I hiked the 43-mile Devil's Dome Loop in the Pasayten Wilderness here in WA, and I can report that it is gorgeous. Heaven on Earth, really. But please don't move here.