Intraweek update postFrom the weekend newsletter:
We are now at 4404 SPX. July lows were 4389. As long as that holds the uptrend is in tact and we are due a bounce.If bulls were to come in, it’s now. Watch this line, if it breaks (new low taken out) then we can see another 200pt sell.
In summary> 4389 = possible revisit of 4600< 4389 = uptrend is invalidated, new trend here of short the rips and target 4232 and possibly 4124.
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SPX 4400
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Intraweek update post
From the weekend newsletter:
We are now at 4404 SPX. July lows were 4389. As long as that holds the uptrend is in tact and we are due a bounce.
If bulls were to come in, it’s now. Watch this line, if it breaks (new low taken out) then we can see another 200pt sell.
In summary
> 4389 = possible revisit of 4600
< 4389 = uptrend is invalidated, new trend here of short the rips and target 4232 and possibly 4124.