SPX Roadmap July 2024

由Neon提供

Topping phase has begun at the exact level it was expected to start

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So far so good

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Target reached pre-market

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It is a bit too strong too fast here

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Bulls are so impatient

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Ideally SPX gets to around 5725

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The battle below the Iron Dome continues

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Getting there

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Quite a grind up here into the Iron Dome

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Entering Oct exactly as expected in price and time

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Mid Oct price level reached. However, the price structure does not look complete, so this may extend a bit to the upside still

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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 now

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Good reaction from the Iron Dome

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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 high

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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 ahead

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One more Trumpian high is early in the making

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Not much above really, lets see how it goes into Thanksgiving

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LIkely into 6150s

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SMH argues for one more corrective high since the Aug low reminiscent of the SPX pattern the first 8 months of 2000