Bottoming Action

This crazy volatility is exactly what you want to see if you're looking to buy a more substantial low.

I'm not calling the low in, but with some of the right indications, I will. This action is part of what I wanted to see.

Be alert. It'll happen fast when it does.

M

This crazy volatility is exactly what you want to see if you're looking to buy a more substantial low.

 

I'm not calling the low in, but with some of the right indications, I will. This action is part of what I wanted to see.

 

Be alert. It'll happen fast when it does.

 

M

Thanks, gis

Ideally, SPX 2750 to 2780 will be a good support zone where a low can be made

I'll call the low, the pattern that is being formed is SUPER BULLISH!

New highs soon! 

Ya I think there gonna fight to hold it around this 2875 level, should be interesting!

The market is in an IT correction.  SPX is in wave c down of Wave A down.  Here are the possible lows for SPX:

2770 - 38.2% retracement from the ATH 3029 to the 2018 Dec. low

2688 - 50% retracement from the ATH 3029 to the 2018 Dec. low

2610 - 61.8% retracement from the ATH 3029 to the 2018 Dec. low

2348 - 100% retracement from the ATH 3029 to the 2018 Dec. low

Don't expect it's done in a few days though...................

Edited by redfoliage2, 14 August 2019 - 09:38 AM.

I like the 100% retracement.

Welcome to bear trap city!! Don't see any fish on the 2 year crossing over the ten, the 10 crossing the 2 year the way it is looks more like a over crowded trade. We all know what happens there. When you watch the Summertime data, usually what happens is it progresses weaker as the Summer goes along, but you usually see it begin to firm in the 3rd week of August when the more important data comes out. Total over reaction today on an overcrowded trade. we could reverse any time in a very big way. (JMHO)