SPX Roadmap July 2024
Topping phase has begun at the exact level it was expected to start
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So far so goodملاحظة
Target reached pre-marketملاحظة
It is a bit too strong too fast hereملاحظة
Bulls are so impatientملاحظة
Ideally SPX gets to around 5725ملاحظة
The battle below the Iron Dome continuesملاحظة
Getting thereملاحظة
Quite a grind up here into the Iron Domeملاحظة
Entering Oct exactly as expected in price and timeملاحظة
Mid Oct price level reached. However, the price structure does not look complete, so this may extend a bit to the upside stillملاحظة
The main objective has been achieved. However, the price structure still looks unfinished which calls for upside extension. Either way, the bull cycle reached the 2 yr mark. So from time and price perspective, it should be extra time nowملاحظة
Good reaction from the Iron Domeملاحظة
Dow appears to be forming initial 5w down which could be a precursor to a larger decline. Still uncertain whether this is done or one more final Trumpian highملاحظة
So we had an initial breakdown this week across indexes, but still higher support levels are intact. Therefore, still uncertain whether an important Top has been made or one more Trumpian high aheadملاحظة
One more Trumpian high is early in the makingملاحظة
Not much above really, lets see how it goes into Thanksgivingملاحظة
LIkely into 6150sملاحظة
SMH argues for one more corrective high since the Aug low reminiscent of the SPX pattern the first 8 months of 2000
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