SPX 4200+ still the goal

10 May 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 May 2023

Not

here are the lines i wanted to show -

11 May 2023

Not

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

11 May 2023

Not

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 May 2023

Not

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 May 2023

Not

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

11 May 2023

Not

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 May 2023

Not

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

12 May 2023

Not

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

12 May 2023

Not

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