The 2008 analogue tape looks very interesting from where we stand.
Let's anchor it to the next two Fed meetings -- since that's all that matters -- and it suggests great things for May, 2023.
| SPX daily with 2008 overlay |
With a final backtest of the old support in August we would then selloff to new lows into October.
| 2008 analogue into Fall 2023 |
Stay frosty. Nuke scare in May? NATO is truly desperate and bankrupt at all levels.
You don't see it yet, but it's there. A couple of things will happen first.
After that, all bets are off.
Then it will be public, and the game afoot. Durham. Military. A true black swan -- who could have seen that coming? Who is prepared for such goodness? A stable genius caught them all, and now it is time to mete out justice upon them.
The bottom of the rally channel from the 2189 SPX low is about 2830 right before February opex. This is how we broke down in early 2020; we crossed the channel formed by the previous rally, bounced, and then fell all to pieces. The period from March FOMC to June FOMC should be an historic, dangerous time.
We will win and restore Constitutional government to our land. We will cement the tactical victory with dramatic shifts in the Overton window as pharma culls the herd. Sorry, no refunds.
| crossing the rally channel on the S&P 500 |
The S&P 500 will be in the neighborhood of 3100.
