sp'monthly3
Dow'monthly3
Summary
*rather than get lost in the minor noise, I want to again highlight the giant monthly charts...
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Is there ANYONE still doubting a key intermediate top is now in?
We have clear turns/breaks on all the main indexes, and we're headed for a major multi-month drop...
Primary downside target is now sp'1650s.... with Dow 14700.. R2K low 900s.
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*there remains HIGH threat of a bounce back into the sp'1900s, but clearly, the lower we go... the lower the upside bounce target will be. Even 1950 now looks a damn long way up.
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10.04am... A viable spike floor of sp'1837.. with VIX 28s...
A very long day still ahead though...
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10.15am.. The bounce continues... but the further damage has been done.
It would seem the sp'1650s are now a given... probably late next month... along with VIX 40s.
Incredible times....
10.30am.. R2K turns positive, Transports set to follow.