Are Bullish Minded Traders about to give up?
I just returned from a week's long vacation in the beautiful appalachian mountains and updated my members on the current posture of the SPX cash market, the ES and NQ futures. However, I did not forget my trading view followers who I have not updated in some time.
I do believe this current pattern down extends and if there was a time within the current pattern for bears to press, it's now. I will remind those who follow me here, this is the initial leg down to my intermediate target of 3200-3300 ES which should take place in the first quarter of 2024.
To the degree that plays out as forecasted, we will spend at least a couple years, retracing from those lows...but only to get back to where we are now.
IT DOES APPEAR BEARS ARE ABOUT TO GET BOLD...and the sentiment chart continues to ebb and flow.
I do believe this current pattern down extends and if there was a time within the current pattern for bears to press, it's now. I will remind those who follow me here, this is the initial leg down to my intermediate target of 3200-3300 ES which should take place in the first quarter of 2024.
To the degree that plays out as forecasted, we will spend at least a couple years, retracing from those lows...but only to get back to where we are now.
IT DOES APPEAR BEARS ARE ABOUT TO GET BOLD...and the sentiment chart continues to ebb and flow.
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