September FOMC will hike rates and initiate the next plunge to the 1530 area, by the October 9 Bradley turn date.
A final crash from the next Bradley turn in mid-November brings us down to 1074 SPX, just in time for the Fed to announce its next package of Quantitative Easing. We will then be running on faith and fumes the rest of the way.
The descending trendline here is so steep, that this cycle may finish entirely by Christmas.
|SPX 5Y 08-24 3PDH|