I turned on CNBC this morning just to see what the “experts” are saying. Basically, they’re all over the map – trying to explain how the fundamentals indicate various outcomes.
Thankfully, our charts offer a clear path to SPX’s next downside objective: the 2.24 extension at 2703.62. Yes, again.
But, if our yield curve model works as well as it has in the past, we could see a much bigger drop than that. We first explored this model last February [see: Does the Yield Curve Matter? A Closer Look.]
Since then, it has facilitated many accurate forecasts. Right now, it’s suggesting even more downside.
If CL and RB (which just officially tagged our 1.5915 target overnight) fall any further, SPX could be in for quite another tumble.
continued for members…
Sorry, this content is for members only.Click here to get access.
Already a member? Login below… |