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Non-Tech : Kirk's Market Thoughts
COHR 132.010.0%Nov 3 3:59 PM EST
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To: POKERSAM who wrote (13871)7/27/2022 3:44:39 PM
From: Kirk ©  Read Replies (1) of 26401
 
Any outlook change with today's rally?

I think you said in the past 4100 was key, but I may remember incorrectly.
Yes, one could argue that. You make a strong case and it is the majority opinion of those that I take seriously.
That, however, is not my view. IMO we have just completed another in a series of 1,2s and will continue downward to eventually complete the Cycle A of an ABC that has an ultimate target near 2200.

Currently the SPX looks like a break-out and is now back to my dashed-green resistance-turn-to-support line.

My guess is SPX fills the ~4100ish gap, tests this break of the new support line from above then goes higher unless the economy goes into the toilet.
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