E-Wave for the S&P 500 Index

[gdl]

ONLY that the longer it is stuck in this tight range the more likely a violent decision will be made. How many more weeks can the structure be undecided. I would argue we never went out of the October bear cycle. I stated 2 weeks ago there would be NO WAY the market can rally on earnings, fear of fed, and most importantly fear the FED will not lower rates this year. How critical is it for the FED to lower rates this year? As critical as the Pandemic in China staying in China. The affect will be the same once realization occurs.

I promised myself to stay away during the roll over event. The recent INFLATIONARY data on manufacturing and service means the FED does NOT see a recession and therefore will NOT stop the hikes. Lets see if confirming data points over next 2 weeks make it a fait accompli.

The pressure on this market IMO is huge. I can't see any ability to mount a rally.