S&P 500 Heading Towards 450 !
- The breach of the 800 level is a major multi year Sell signal !
- More downside coming. There should be a dead cat bounce around 600-630 level to test the 700 level. Thereafter, it should collapse to 450. It is not going to be pretty.
- The other possibility is: the dead cat bounce will test the 800 level. But fail and collapse to 450 level.
- All bets are off. Unless something positive comes up rapidly, 450 will be seen by end of the year. The doomsday scenario of below 450, 330 (?) is not out of the question. In the 1929 Great Depression, DJIA collapsed 90% from its peak. This will translate to a current day level of 140 on the S&P 500.
Disclaimer – I am not a financial advisor. This is not an advice to buy, sell or hold any stocks or bonds or any precious metals.
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