The SPX is topping or has topped, but with interest rates are expected to be lowered at month's end and we have solid earnings, I will not consider entry until August 5th.
It is anticipated that August/September will bring a signification correction and this correction could be deeper than what I anticipated on the chart. Then I expect a sling shot event to launch prices to around 3200 by early January.
Early January 2020 is probable when the economic slowdown gets noticed, but the bull could go on throughout 2020 due to the presidential election cycles and European money pouring into the USA.
It is anticipated that August/September will bring a signification correction and this correction could be deeper than what I anticipated on the chart. Then I expect a sling shot event to launch prices to around 3200 by early January.
Early January 2020 is probable when the economic slowdown gets noticed, but the bull could go on throughout 2020 due to the presidential election cycles and European money pouring into the USA.
Trade active:
We may have seen the high on Friday the 26th, but I will not act until after the FOMC. This weeks NFP and today earnings from AAPL need to be watched.
Plan remains the same. Prepare to short. May enter Friday and add to position Monday.
Plan remains the same. Prepare to short. May enter Friday and add to position Monday.
Order cancelled:
Well the high was last week on the 26th. There will be short opportunities over the next days, but this scenario has changed due to a tweet and long winded speech by Powell.
As noted in post on VIX and IWM below, I expect a bullish move after this correction with the low next week as originally outlined.
As noted in post on VIX and IWM below, I expect a bullish move after this correction with the low next week as originally outlined.
