Alternative Path

[gdl]

A very defined rising wedge on SPX since 11/11. Break out or down? See no reason we break out here. Inflation is not only a long problem it is about to get a whole lo worse as it has in the early 80's. The data will confirm this. There is not many left that would dare to call an impulsive drop here, and rightly so. the bets were wrong many times during this last month.

Any deep drop this week would be a shocker and unexpected except for the die-hard bear like me. BUT time is on the Bulls side as holiday spending is mandatory and will be supported at all costs. if the market starts sliding Monday I don't believe the PPT would hold it up simply because they can't risk more damage later during the heart of the holidays.

All I need to see is a close Monday below 3900 on SPX. I throw in the towel for another 30 days if Monday is not going my way. Yields, Bitcoin and the dollar should have a fast surprising move if i am right.

Bitcoin looks like it is ALSO at a major crossroad.