SPX 4200+ still the goal

10 Mei 2023

I could be wrong but judging the price action and rsi, I expect 4200 and more by Friday. If true, tomorrow may be a huge day in the market 100+ points or more. If I'm wrong we will break 4100 and I will update the possibilities. As of now, I think a C up to 4200+ is likely. If true, the gap on SPX cash at 4220 probably gets filled, and a short squeeze could push the market higher than that.



Good luck!

10 Mei 2023

Nota

here are the lines i wanted to show -

11 Mei 2023

Nota

either we reach up for 4200 + or we doubletop today. If lower, I'll update. Numbers at 8:30

11 Mei 2023

Nota

support level reached, looks like a C and the rsi is oversold again, going down more is possible but I think another whipsaw is likely

11 Mei 2023

Nota

IF it's a c of B, the 5th wave should be finished soon, note how low the hourly rsi is already, caution for bears.

11 Mei 2023

Nota

leaning toward this into tomorrow, rsi can get low again and then more chop.

11 Mei 2023

Nota

everyone is waiting for this to break, the problem is everyone also KNOWS everyone is waiting for this to break, so a small break above or below and then reversal is more likely than not.

12 Mei 2023

Nota

at support again, a breakdown to 4080 or less and then recovery is likely.

12 Mei 2023

Nota

purple lines is another possible structure the market is bouncing around in.

12 Mei 2023

Nota

this can go lower, but the much lower 4hr rsi reading at price double bottom is suspicious to me.