The beautiful 2008 tape, transposed, gives a good idea of how we might bounce around violently between areas of support and resistance before we finally break down in October and plunge to the 1040 level, eventually bottoming near 500.
The 2008 tape is such a beautiful moment in the markets, it serves as our model. Again this time, but with more feeling.
|SPX daily with 2008 crash tape transposed|
A crash in October may bring out the best in candidate Trump. It would be good if he had two more SCOTUS nominations in place before then.