It's done. Now we will see just how far the markets can sink before the Fed relents. Increasing rates will slow demand, but supply is driving inflation which the Fed has no control over. There's a lot of air in the bursting bubbles. It's gone beyond insane.
IMHO the sign of the top occurred when the 43week channel was broken 2 months ago. Lows are due: 6.5yr in Aug22, and 3.3yr in spring23. Low probably to occur early next year. Meanwhile sell big rallies and stay short. Valuation target 2000-2200 SPX. Oddlot
IMHO the sign of the top occurred when the 43week channel was broken 2 months ago. Lows are due: 6.5yr in Aug22, and 3.3yr in spring23. Low probably to occur early next year. Meanwhile sell big rallies and stay short. Valuation target 2000-2200 SPX. Oddlot
Have been reading some comparisons to 1987 ... In '87, price dropped 100 points from ~2800 on a Friday which led to an add'l 500 point drop (20%) the following Monday... Last Friday futures dropped 1200 points from ~35000 so today expect a 20% price drop of 7000 points... Often a reversal happens when price and indicators diverge
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