3800 on SPX was exactly what i expected. Now we enter the last day, the 5th. The last day should be mopping up. that usually means any early slide should be tamed by close with a small loss or gain.
It also means the same setup as the whole year, a one week plus rally. Smack damn into new years. What a surprise. Next rally should only capture perhaps 3950-4000 max. Orderly, predictable and no panic what so ever. It also means we have not even come close to finding a bottom. Poor Q's, getting the brunt of the fall once again.
So perhaps we can reach 3750 intra-day tomorrow? No matter we rally at close Tuesday. IMO
2023 should indeed be a nasty first half. Last 8 - 10 days of holiday should be boring but flat to up. Why the powers that be didn't want a watershed event is beyond me. maybe they see another 6 months of extreme pain and refuse to waste panic stage till we are much closer to a finish line.
What I do not see. A rally past the highs of this current wave, 4080 on SPX. A rally lasting much beyond 2 weeks, The long channel is intact!
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