Is this finally the impulsive three of three that we have all been looking for? Futures are recovering somewhat. Fear is real. This is no longer a wall of worry. Everything is broken and it is only a matter of time before it really lets go in a big way.
Bank/sovereign fears are here. "They" have lost control. To many problems to list here now. Contagion is spreading.
The best cart I have is the CPC. I'm gonna speculate that it turns near the red line where 1 of P1 turned near the red line. Speculating on the SPX charts my target area is between 1020 and 990. Sadly, that may prove to be to conservative of a low for 1 of 1 of P3. Remember I have speculated that the first wave of P3 may be the worst of all as capitulation may happen here and not in 3.
The CPC chart is best viewed HERE.
Of course blogger is now not cooperating and will not load the chart. please go to the link above to see it.
SPX target chart for the bottom of this fall. GL - If I can get something out there today I will. My 30m chatr is going to give a sell signal this morning. Below is the daily. The MACD is no where near about to turn. Much more downside to come.
