It Wasn’t A Bad Guess On The S&P 500

2022.05.15 11:27

It hadn’t even been two weeks, but a friend of mine reminded me yesterday of this chart I created of the SPX on May 1st:

SPX Futures Chart

So, from the level of above 4200 where it was, I called for:

• A fall down to below 3900
• A hearty recovery to somewhere under 4100
• The real collapse, taking us down to about 3400

As I said, it’s only been a couple of weeks at this point, but here’s what has happened so far.

ES Chart

In other words………..so far, so good. I utterly nailed the first part, and the second part is on its way to completion.

I’ll say this: if we do indeed poop out around 4100 and then fall hard, I will declare myself and will be commissioning my statue. At this point………we wait.

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