Market crashes proceed in three waves -- ABC. The question now is whether "A" and "B" are in, and we are beginning a destructive 5-wave impulse "C" to new lows.
Channel break? A plausible "B" wave triplet complete?
|S&P 500 hourly + channel break OMG|
Let us propose this scenario:
- "C" down has begun, selling into EOM, support ~2075 from prior lows
- Bounce into June FOMC is on "hope" that the Fed will buy equities - 2460?
- Fed declines to buy equities
- A real market crash to ~1040 S&P after June FOMC, 3 of "C"
- Late June to July opex on EOQ2 fund rebalancing and new "hope"
- By late July CMBS, CLOs, RRE all imploding, market follows down
- Shocking new historic lows - 520 on the S&P 500?
- Fed announces direct purchases of $SPY, $QQQ at the EOM July meeting
- BEAR MARKET OVER
- MMT and start of the final collapse of global credit monetary system
|S&P 500 hourly "C" wave to 520|
Good luck to all friendlies.