SPY/QQQ Plan Your trade 8-2 - The Kamala-Crush Continues

2 Agu

It's been quite a while since I've seen -3%, -4%, or even -6% on my screens.

These are HUGE price swings, and I'm still having trouble identifying why the global markets feel a major crisis has suddenly hit (unless it is all related to Kamala Harris).

This update shows you why I believe the US markets must attempt to find support near this 50% pullback range. If we can't find support at the levels I highlight on this video - then all bets are off and we could enter a much deeper price correction.

I'm still looking at the data, earnings, and other news. I see nothing that says CRASH.

I see US companies preparing for a tough summer - but still making profits.

I see the US moving into a hotly contested election.

I see consumers still spending (moderately).

I just don't see a CRASH event yet. So, I believe this is all a large panic move.

More later.

#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold