PsychonauticalTrader

Macro big picture - we will drop to 3500

Long
SP:SPX   S&P 500 Index
.... and likely retest the broadening wedge "megaphone" pattern the S&P has been drawing for quite some time now.

In other words, S&P 500 will continue to drop, and drop pretty hard, but likely not as hard as many doomsayers are thinking. 3500 is my point to start averaging back in pretty heavily. We are not there yet.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.