The channel is steeper than thought and has its origin at 2594 SPX in May. The 1.382 fib extension of this pullback from the 2872 is 2980 SPX, a level we could reach at the beginning of October.
$IRX indicating the September hike. Here's the steeper channel and updated count.
Strangely enough, everything still points towards the same target next March, when everyone will be begging the Fed to lay down some serious loose policy again.
The Fed will oblige them, it will have no choice.
Strangely enough, everything still points towards the same target next March, when everyone will be begging the Fed to lay down some serious loose policy again.
The Fed will oblige them, it will have no choice.