Down move is almost done. This last selling pressure, should be the last one before a medium-term bottom on the market for at least the next 9 months. It may even extend to go into a full year although we should be conservative at first on the targets.
1000-1200 pts on the S&P look like obvious area for a target, where I fall mostly into the mid-rage as more likely around 1091 points on the S&P.
Two or three more weeks and it's time to go on a shopping spree. It's been pretty much a party for bears for 2 years now. It's time for us bears to enter into hibernation mode.
Lots of signs of exhaustion to the downside support the idea of a lasting bottom to occur in the short term. Lot of market divergences are popping up.
SPX Bullish triangle intact
3 months ago