SPX Roadmap July 2024
Topping phase has begun at the exact level it was expected to start
Catatan
So far so goodCatatan
Target reached pre-marketCatatan
It is a bit too strong too fast hereCatatan
Bulls are so impatientCatatan
Ideally SPX gets to around 5725Catatan
The battle below the Iron Dome continuesCatatan
Getting thereCatatan
Quite a grind up here into the Iron DomeCatatan
Entering Oct exactly as expected in price and timeCatatan
Mid Oct price level reached. However, the price structure does not look complete, so this may extend a bit to the upside stillCatatan
The main objective has been achieved. However, the price structure still looks unfinished which calls for upside extension. Either way, the bull cycle reached the 2 yr mark. So from time and price perspective, it should be extra time nowCatatan
Good reaction from the Iron DomeCatatan
Dow appears to be forming initial 5w down which could be a precursor to a larger decline. Still uncertain whether this is done or one more final Trumpian highCatatan
So we had an initial breakdown this week across indexes, but still higher support levels are intact. Therefore, still uncertain whether an important Top has been made or one more Trumpian high aheadCatatan
One more Trumpian high is early in the makingCatatan
Not much above really, lets see how it goes into ThanksgivingCatatan
LIkely into 6150sCatatan
SMH argues for one more corrective high since the Aug low reminiscent of the SPX pattern the first 8 months of 2000
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