Let's face it. There has been no crash so far. We are down about 10% from the top. We have never had more than 3% drop in a day. So yes, there has been no crash, But the volatility makes it feel like a crash everyday, if you watch the tape. And if you read this board you will feel like we have crashed many times so far. This is by far the largest concentration of Crash posts i have seen ever on this board and i have been watching this board for 15 years !
Can we crash ? Yes, only if we break SPX 2500. 2500 is major long term support channel for this bull and until that goes there will be no crash move. If we don't break SPX 2500 by the elections or after the election day, then most crash experts will need to find a new career. Just kidding !
Having said that, my ST has been down for quite some time. My IT went bearish after the break of 2715. My LT continues to be long above 2500.
I have stated this before. If we break 2500 then look for 8-12 months bear market. If 2500 holds, we are near the vicinity of a very important bottom. I am open minded on either outcome.