I'm seeing the perfect storm happening on Monday: one of those rare days when you get a 7-8% mini panic on the SPX. I'm looking at the WTI oil market and its telling me we could see $145 a barrel very soon!

 

Whenever I have seen this kind of irregular wave set-up along with a big stretch/right hand translation in the cycles, the set up for a mini one day panic is close like a Monday May 11 mini panic. 

 

It's telling me we need to break this rising wedge and test SPX 6790 quite possibly Monday!

 

I don't see much of a bounce into Wednesday and down to lower lows on Friday, maybe 6732 SPX (the last time I saw anything close like this was late Jan 2020 during the week of the FED meeting).

 

We also had Pluto move into Retrograde Wednesday, too, often seen near important lows.

 

The astros are very warlike here too with the Mars sq. to Jupiter Monday night and the Sun sextile to Jupiter tonight. Thursday next week see the Sun/Mercury conj., which normally sees a major low within' 1-2 Trading day. The Future Forecasters group of remote viewers see a major attack on one of our aircraft carriers this May and Monday fits the bill for a panic so fill your tanks up with gas. I bought Monday way out of the money SPY puts 708.0 puts for $.07 on Friday.

 

I see the the stock market having trouble moving higher until the first 3 trading day of June which I believe catapults us to all time new highs by June 3

 

More pain is due for the first half of June (12th?) then higher into around the July 4 Holiday to more new highs!

 

Bottom line: I see a COVID like 40+% crash from July 30-31 into Sept 1, down from 7700+ to around 4338. I can't even fathom how high WTI crude will be this summer, $500/600?

 

Trade safe. Some real $h_t coming me thinks...

Sell sell sell, SP500 down -.05% this morning, will it ever recover??  Just kidding of course but I do believe its getting stretched here on thinner and thinner volume!!  Earnings have been great in tech and that is what this entire rally has been on.  Call prices are insanely priced with even the put/call ratio at its lowest level in a year.  Just waiting for the trigger that we'll see volatility once again as I would love to be able to sell both sides.  This morning I took profits of $6.60 on overnight exuberance and just sold the daily 7410 for $5.20 where if I have to will start to build a short...

will put some SSTs under the market i the futes. Just in case God decides Jimbo needs a dose of humility. It's possible some might pull their oars in a little before the unemployment report. The market could do some damage to those that are over leveraged at this point. Its  possible. A significant gap down tomorrow and you'll see some panic. (JMHO)

We are witnessing the greatest melt up in history unfold in realtime. When its all said and done, dont be surprised if we see a 2000 dotcom type blowoff top unfold. Multiple red days or even a few red candles are a thing of the past. There is a relentless underlying bid to this market, the likes of which have never been seen before.

But this time, it really is different. The markets are being led by companies with massive revenues and profits, facilitated by multiple revolutionary tech booms unlike the dotcom era when the vast majority of stocks leading the runup were purely speculative and/or unprofitable. And the scary thing (if youre a bear that is), there might not even be a top anytime in the foreseeable future. I can see this market going absolutely ballistic for months to come. But at the very least, and this is a fairly conservative estimate, we should easily see the markets explode another 25-30% from current levels before we can even think about an IT top.

The only way the bull case would be invalidated is if somehow the previous Dec/Jan ATHs failed to hold support but Id give that less than a 1% chance of happening before another 25-30% melt up. At this point, its going to take a black swan / Hindenburg type of event to shock the market into a new downtrend. I dont see that happening anytime soon.

TLDR: Shed your bear suit and get out of the bulls way before you get run over. The path of least resistance is up and remains up until proven otherwise. All dips are buying opportunities. Were going higher, much higher.

Watch the sky! 😂😂😂