Ok well I figured it out sort of
We get and SP500 price of 4000 to reach an RSI value of about 14.
I guess that RSI 14 value is only feasible if we close on the lows again Monday, then the Tuesday dump and then maybe fed meeting wednesday spike north.
29 and 87 crashes both went to 900 day, and if you have watched my stuff over the years, you know the 900 MA can be a magnet once the vertical trend breaks...on ANY time frame.
So....that could be a likely target if things fully let go here next week.
Although I believe this will eventually get much worse than a 900 test this go round...that amount of CARNAGE that is going on under the surface is astounding....and that will likely matter a lot at some point....
As I have been saying, Once the Mega Caps let go...LOB..
This should be a generational top once all the Mega Cap monthly charts completely break down. AMZN and NFLX already gone.
Once AAPL MSFT FB and TSLA get up a head of steam downside..................
And if bulls manage to stick save it in this area, then perhaps on last multi-month ramp towards 5K SPX, and then we come unglued in mid-spring.
Mega Cap FANG stocks looking like it could easily happen NOW...we find out soon...
Edited by K Wave, 23 January 2022 - 02:11 PM.