SPX Long Term Idea

Just like everyone else that got surprised by the fitch downgrade, we have to kind of cancel the ATH ideas for now, unless if we get a miracle in the bond market. That being said, we should probably get a rally starting here in the next few days to form what will look like, A) A cup and handle setup (look at TSLA chart for that idea more clearly shown), B) a head & shoulders pattern, but both in reality will lead to a w2 up imo, and then we'll see what happens in the month of September. I'm not getting crazy with downside targets, but if we get a recession, we will test pre-covid highs, so this could play - very rough idea on timing.

I think Mr. Fink called it best when he said the recession will occur in March 2024 (he has since retracted that statement)...one hour, day, week, month at a time, these are all just scribbles