Tuesday, May 3, 2016

Here Comes The Boom

Hi Folks,

I believe in the next few weeks we are about to take the next BIG LEG down in the market.  The way I see it unfolding in terms of SPY is that we trade down to around the $200 level, then rally back up to the $208 - $209 range and then the bigger selloff begins.  I have also lowered my forecast for the potential market bottom from $88 to $84 based on this last leg of the market.  Again that number will take time to get there.  I am not suggesting that we go right to that number.  This market is unfolding as expected and the eventual bottom takes a few years.

Thanks and Good Trading,