SPX Futures are pegging ~ 6733 as I write this. Ideally, the SPX cash should tag ~6743/44 and then drop into Tuesday hard to near the 6592-98 zone.
I believe that Friday last week (my ALGO target top) witnessed the orthodox top from the April 7, 2025 bottom. In wave terms, it formed a double three a-b-c X a-b-c rally from the late June (23) low.
From that low to present the major cycle pullbacks ran 28-21(49) trading days and now 25 TD's tomorrow projecting a hard low on Nov 10 (24 TD's).
The 18 year cycle projects a final top for the SPX on Oct 11 and the DJI for Oct 16. The current NDX cycle projects a 17 TD high on WEDNESDAY October 15.
I believe we are making an irregular top in mid October and falling hard into the 24th of October. The wave count would be [x] 10/7, [y] 10/15-16 and [z] 10/24 = A. B= Oct 29 on the FED announcement and C = Nov 10, 2025.
The rallies in gold and silver are showing panic buying. They should top on October 20th. $4000+ an oz. gold and $50+ oz. Silver are in the bag. This not a good sign for the stock market, which is extremely overvalued and showing massive momentum divergences!
The SPX could hit 3800 next week and [y] should sport a strong a-b-c type rally with "b" due Monday next week and "c' due on the CPI report.
A drop of about 35% is expected (IMHO) from October- November this year.
Edited by blustar, 06 October 2025 - 08:32 AM.