Below is an updated chart of the one I’ve been using for a while now. It’s self explanatory as to what I’m watching and where I believe the next stop is over the coming days or weeks before any meaningful pause. And yes, “pause” is a deliberate word choice.
The potential for even further downside mayhem is, and has been, as I’ve explained over the last week “Already built in.” via a technical perspective. How the “market” reacts should it reach (e.g., noted “minimum”) there will give very significant clues (my conjecture) on just how damaged it is. Here’s that chart using the S&P 500™ futures ~7:15am EST this morning. To wit:
As always we shall see. I’ll be discussing this and more on today’s show. See you there.
© 2022 Mark St.Cyr
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