My premise: Options based on chart recognition, repetitive recent path, Fibonacci, dash of Elliot Wave and Intuitive understanding of market behaviour.
I called last week as a fake out event. NOT a long awaited bottom. Momentum has proven to be a fake! you don't have the start of a new trend higher with this weeks weakness PERIOD!
Calling for new lows on 6/6 (possibly crash day) at 3550 on SPX.
Fun-da-mentals: INFALTION, inflation inflation. Last 40 years of Disinflation disinflation disinflation. OIL is FORCED to stay HIGH and will spike to 140. Pandemic giveaway to the middle class has made them FLUSH Housing bubble at all time highs! Inability to live in a high borrowing costs world after weened on 40 years of zero rates.
Ultimate result: UGLY. decades of malaise and bottom feeding at SPX below 1,000.
