If we have a continuation of the previous pattern, it's likely we consolidate here @ 3800-3850 before going down to -30% ATH @ 3373 by 11/16-11/18.
Why? Rate hikes next month, more CPI data, etc. Until the Fed announces they are going to pause, or pivot, or there's some new development, I think we head lower.
Personally I think 350P or 360P for 11/18 will work, and hedge with 25P VIX for 11/23.
Not financial advice.
Why? Rate hikes next month, more CPI data, etc. Until the Fed announces they are going to pause, or pivot, or there's some new development, I think we head lower.
Personally I think 350P or 360P for 11/18 will work, and hedge with 25P VIX for 11/23.
Not financial advice.