Back on March 1st, in post "Whats next in the markets" I asserted we have a target of SPX 2590-2500 range as shown on the graph below. The futures show SPX 2600. We may be finally near a short term bottom. The bounce once started and will be broken (week, month, quarter?) I expect the market to cut through the downtrend and find stronger footing XPS 2250-1900 range. Timelines are subject to FED, government, and bank actions. A TERMINATING bottom, meaning if we hit this, I'll start to freak out, is materially through SPX 1600. If that breaks in the next year materially, I will need to reassess. I do think the 'absolute bottom' is now SPX 1600, as posted in 'how do you know there is a trend change?'
Good luck!
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