IMO we have a date with 2180 on the S&P 500 very very soon -- within a week. That's what a wave 3 point-of-recognition panic sell means for us here. The Fed needs to play catch-up on their balance sheet plans in what remains of February.
It also means we collapse back to the 1000 level before the All-Star Game. Don't worry, they'll announce a significant policy shift at the September Fed meeting that will bring back the animal spirits once again.
|W2 to 2180 EOM February|