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:
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.
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 The Greatest Chartist in the Solar System and will be commissioning my statue. At this point………we wait.