|please read this - even if you are pleb-tier and can't get my 1934 GA&U edition|
Now the candles get scary -- 500 pts down in 2 weeks -- and a formally-declared Bear.
Here's the general idea, sketch I made a couple of days ago:
|S&P 500 sketch|
The Fed will NOT hike at the December FOMC, and this will bounce us back up in "B" for a final kissback visit to the rally channel since the 2009 lows.
Then we get a bond event or similar dislocation in January. Sorry. The market visits the 1360 area SPX by the March FOMC, for reasons I will explain to you next week.
This weekend I'll be out on Six Ridge in Olympic NP looking for my fellow bears.
|also read this|