SP500 $SPX $ES $SPY - Taking the stairs, down, down, down.

We should visit the yellow steps.

The blue step is a bit of a stretch but not impossible. Today, my confidence for this target is at 60%. This will change over time. I'll try to provide updates when we move lower.

Good luck.

Order cancelled:

Do not follow this idea! It's incorrect.

I've provided the new analysis here:

Trade active:

Going back to this idea. I don't know what happened and why I changed my mind last minute before this move. Need to do some soul searching :)

Anyway I expect this to rip down to 262 shortly.

We will not revisit the top anytime soon. Few years. Markets will go lower I believe.

Comment:

Playing out as expected. I wouldn't go long on the market just yet. Fear still a mindset and I expect more selling and one more bounce of the resistance. Possibly gap downs on open and rally up.

Some nice bounces coming soon during earnings.

Comment:

Target hit. We are in for a bounce until January.

Comment:

Comment:

Hitting the targets as defined. Click play on the main chart.

Comment:

Bouncing a bit but should hit target.

Trade closed manually:

Closing this trade. I think we're at bottom and will be bouncing here shortly. Forget about the previous target for now. Might not happen for months.