One More $SPX Thought

The only other thing I can see right now is this. Since we didn’t break down from the triangle-looking consolidation we were in (here), it’s possible that that consolidation was simply part of Green 2 already. And, I dunno, Powell’s message seemed consistent. I don’t see anything particularly bullish.

But, if it’s a Green 2 finishing very early, it could be this:


We are in the range of a 2 (50-61.8% retracement). If it’s a 2, I wouldn’t want to see it go much higher. So, if they’re just squeezing out shorts before another drop, this is possible. Otherwise, maybe we’re still headed for an actual touch of the 200-day. But, I rolled my puts earlier, and I will add to them here, and wait to see what happens.

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