Charts below are Uempel, my friend, I find them very interesting and like to share with you. I respect Uempel’s opinions because living through almost 3 decades in the stock market and still kicking today is not a easy thing to do, but to post here doesn’t mean I agree or disagree with his opinions.
SPX is now confronted with heavy resistance and a cycle turning date is pending. I would not be surprised to see some violent move on Monday/Tuesday. Perhaps a Futures induced pop at the opening followed by a violent sell-off? - I don’t know. But I’ll be entering the short side after any strong upwards move. And, depending on what Asian markets do on Monday morning, I might even go short at the opening.
