Hello,
I'd like to start this post off by sharing my last update to my macro outlook which was posted last July.
----
Since hitting the first major 12 year level, the Spx500 has been in a corrective phase.
We're nearing 3\4's into the local correction, and the final quarter will take a lot of money from a lot of people.
This is generally what is required before a major move to the upside takes place.
----
I'm theorizing that 4720ish will mark a significant top, and we will see close to a $1000 drop in the Spx500 before the final phase of the bull market begins.
My upside target remains the same for this expanded fifth leg (between 5700~6200), but this will take time - don't expect it to happen overnight.
Majority of the market is bearish, like 80%. Which is precisely why it's going to give us a big fake out to the downside, get every single person bearish, then short squeeze to unreasonable heights.
💸
I'd like to start this post off by sharing my last update to my macro outlook which was posted last July.
----
Since hitting the first major 12 year level, the Spx500 has been in a corrective phase.
We're nearing 3\4's into the local correction, and the final quarter will take a lot of money from a lot of people.
This is generally what is required before a major move to the upside takes place.
----
I'm theorizing that 4720ish will mark a significant top, and we will see close to a $1000 drop in the Spx500 before the final phase of the bull market begins.
My upside target remains the same for this expanded fifth leg (between 5700~6200), but this will take time - don't expect it to happen overnight.
Majority of the market is bearish, like 80%. Which is precisely why it's going to give us a big fake out to the downside, get every single person bearish, then short squeeze to unreasonable heights.
💸