3 day bounce coming,
But ultimately flat next week.
Or maybe finish next week at 374 area.
Second half of today the selling was weak and stagnant...
The Bears are tired and fat with gains, and would you want to carry shorts into the weekend?
We could get back to SPY 380, next week, but that's about the top before falling to 350 area during the next month, in about a month.
Big money has no intention or interest in buying yet.
We're very oversold here, but this admin has destroyed investors in 2022.
That's the cycle low time frame.
That will mark a significant bottom,
So many "gearing" for that area, because it would be a
50% retracement of the run, from the covid bottom to the top of 6 months ago, the Christmas top area...
The QQQ has already dropped more than that, and some solid buys are shaping up.
The powers that be could then produce a very profitable rally back to 405, into the election...
This will be helped by some signs that inflation has peaked, just due to the "natural economic cycle" of less demand and supply catching back up, but these inflated prices are here for a long time.
Anyway that's what I'm seeing, but not stubbornly tied to it...
Watching everyday, but good news will come.
Today I was thinking I need to watch for basing patterns now on some specific stocks and also want to find some high short interest stocks that could launch with the help of covering.
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