Morning Post 09/30/2022 SPX

Good v evil 

On to the lie - 

I’ll be brief - SPX 200wma, 50mma, 3600, the channel resistance diagonal from my channel off the ‘09 lows (the one with the diagonal support of death) are all support points right here. Then 3500 sits. Then 3200 with the 38% retracement of the ‘09 lows (my fav) is just below. Short term -daily-TA is ready for reversal. Longer TA still has lots of room - for instance the monthly 20ma has barely acknowledged this whole move south. I’ve been talking of a potential pop to 3900 or the island gap at 4075. Also a gap through all this support and continuation is basically guaranteed (agenda 2030 is happening). 

She’s made it back to our old friend the rising channel! Which should be irrelevant at the pace this market is collapsing. For instance 3200 and the diagonal support of death (14 years support diagonal!) meet at the end of 2023. That means over the next year the market loses only another 10% and forms a massive base. That’s highly optimistic. 3200, 2200 and 1600 remain my targets - and if we make 1600 the devastation will be so bad we’ll need a miracle. 

That was brief. LOL 

More to come below.

Have a good weekend.

GL and GB!