|A crime against Nature and Nature's God|
If we top and head south at a slope comparable to the earlier head-fakes to 1867 and 1810 SPX, but we make it all the way to the lower bound of the megaphone, this gives us a handy target of 1720.
As shocking as a 500-handle dump in the S&P 500 would be, now imagine if it is only actually an A-wave, setting up a C-wave target in October of 1000. The B-wave retrace is almost precisely .382 right at a key point of overhead resistance, retaking a key channel for the rally.
The crash would be an epic beginning to a fresh Bear market. The best thing about a low of 1000 SPX is that it suggests that the Great Game of debt-based money might continue from here for months or even years, enough time for smart bears to exit The System and GTFO of Dodge.
THE GDP REPORTS OF AUGUST AND SEPTEMBER ARE CRITICAL.
|S&P 500 1987 tribute crash|