E-Wave for the S&P 500 Index

[gdl]

ONLY question I have: Will we have capitulation this month or in January.
Never saw a December crash before or even a dramatic slide. PPT will keep the holidays safe.

Economy: 30 year record on quitting jobs. Tightest longest job employment in decades. Wage growth and continued lower productivity is a trend intact. JOLTS report showing 10 million job openings begging for hire. Both travel and restaurant business is booming. 10 year note in last 5 days. from 3.90 to 4.22. Nasdaq pathetically trailing all other indices. Slew of reports came out by economists just in past 24 hours. ALL lowering by a lot 2023 earnings. Lowering form yesterdays assumptions.

Once again there is a timeline based on seasonality: Before the holidays. if we are to correct it has to be in next 12 trading days. Pessimism at extremes means nothing. we can drop from there and get more pessimistic. This market is screaming crash dead ahead (once again). Risk/reward demands a bet on a homerun play. 3200 is absolute minimum on this next drop.

I have been wrong before but i look for the homerun play. it is bases loaded. Will we get that grand slam homerun? Can't do it with bases empty. we have a good shot today.