Replies to post #10664 on 123Tom's TA study group

[123tom]

I think we both want
to be looking in the upward direction for the S+P... but I just did a chart thats looking downward,just to see if it has any architecture from the 4700 as a finished Top.

A collapse from 4700 has all the key math construction points along the way down and I would envision the first major target would be a wave down to the 4300 target area.
Lets see what happens in the next week or two. If it falls now into this kind of major downwave, I might get nervous for the crash happening.

If it is triggered by China's market collapsing, Evergrande collapse, and followed by the 3 Gorges dam collapse and then bitcoin collapse, then I think the crash is happening. The critical line in the sand is support around 3500-3600-3700 area. but the crash target bottom zone with this first look is back down to the 2600-2400-2200-2000 area. Its all too soon to guess at but the collapse could also happen ... soon.

[Sendme]

VIX follow up, link back. If you post enough charts eventually one of them will be right. LOL

VIX hit the red line today. I also marked the other bigger spikes that followed and interestingly enough they came mostly on Mondays and Tuesday.