SPX short term—
in an all -out Best case scenario, which would include a sept, interest rate hike (total surprise), and blow out OCT earnings, and i mean Blow Out ( 6 to7% beats)—spx might see 2200 by dec. but this 2350 bull crap, is not on the table anymore.
This is Best Case—meantime, i think we short the SPX 2010-2020 area.
Not one member quit on this recent downturn, either it means they hedged, i told everyone buy lots of SVXY puts at 95, that dropped to 50, they got rich, or the stayed mostly in cash, because AUG is always tough for me to trade,(and i like to be high in cash), the whole month is, or they used my stops, or they are loyal….OR all of the above.
the reason i like to be in cash, in AUG, is because AUG is the most bearish month, past 20 years. (drumroll —if you please, bertha don’t you come round here anymore)