Biggest difference is we only started to recover from a nasty bear. the support zone is fragile and already at major support. Would the PPT allow a breakdown to new lows here? NEVER!
Below 3900 has no support. 3750 is the next support zone. Will the PPT allow such a move and if so they would make damn sure it neve get below that zone. They would also make sure the rest of year is strong. A great Pavlovian response for the holidays.
This mega bear is stating unequivocally the time for such a crash beyond 3750 is OVER! Any weakness nearing 3750 will be met with a HUGE upside move these next 2 week. The PPT would never allow a weak holiday season. Biggest spending period of the year.
This is why I know the bottom of this bear is not even close. Only after the New year will they allow any such move.
I suspect we recover today at around 3900 and tomorrow is the last day of this correction. As low as 3750 but that is all she wrote. This assumes there is a PPT and the stock market can and will be manipulated.
The ONLY concern by the Market is an overshoot by the FED and a sharp reversal where they have to LOWER rates again. This has ALWYS resulted in a dramatic bear market drop. NOT concerned with inflation. The dollar and yields are plunging. They think the FED made a major mistake by focusing on rate hikes. there will be major events/defaults from big companies. Housing is my best bet. The problem the street has is that both the dollar and yields will be FORCED to recover before the next calamity.
But a real crash here? NOPE! Enough of a drop to get the greedy to commit.
Market immediate move: recently the THIRD DAY of the drop is the worse. It can go as far a FIVE DAYS but the last TWO usually are mopping up days. Day THREE tomorrow. 3740 Should be the lows of the day.
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