Without question the market bottomed at S&P 3491 for 2022.
Now the question is will there be a smaller fake drop early Nov?
That’s a possibility.
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Let me guess, a fake drop because of the FOMC meeting?
Doesn’t take a rocket scientist to know this one.
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The odds are that it was the bottom for year. Bond market along with Jay Powell will have final say on that. New Money Nov 1. Fed decision Nov 2 and jobs report Nov 4. Will be alot of volatility.
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What are your thoughts for today?? S&P hitting the 50sma which is acting as resistance
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Possibly for the year, but the "real bottom" where the VIX spikes and there is panic has NOT happened yet. Panic will happen, and you may be right about the timing, but the actual bottom of this bear wave is not complete. IMHO.
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