Much against the fear of this being runaway up with the current MAD MODE TREND UP QE market, this is going to go into a phase of double DDDD’s soon. Ie -20 or more from the high and the daily ranges will be -20 or 20+ points.
It should start this week with a good pop and drop day. It can involve a final hoorah, so there maybe a good spike up that closes negative on the day.
FOMC rate decision is on Wednesday 30th and I am going for that as a high +/- a day.
SPX closed at 1762.11 and I am looking for a initial swift 20 point fall and then another 30 point fall. ie 50 points down from here for starters.
The clue will be an uptrending TRIN and a spike in TRIN / VXN / VXN.
Lets see.
Plan your trade, trade your plan!