Next up....blue wave'3. Next week may well open higher (most Mondays tend to, especially after a lousy Friday), but I'm pretty confident next week will end pretty fiercely red.
Bears should target sp'1310/00 by next Friday.
Sp, daily9c
Summary
The downside indicated in this doom outlook is severe, but then so are the fundamental problems out there. We're already seeing the Spanish market collapse again - with bond yields soaring, things on the EU side of the big pond...are getting really bad.
*Don't get overly focused on what might come AFTER blue wave'3. First things first, lets see what sort of volatility we get in the next week, and whether we can see a dow -200 or even -300 day.
On any basis, we should have a good shot at hitting 1225/00 in August, and the Fib' extension would suggest as low as 1170 -which also happens to be a key level on the monthly chart.
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special note...
I do hope some of the postings are 'useful'. It has been good to see a few more of you add yourself to the 'followers list'.
Goodnight..again.