Just to clarify I think we are in a topping process which once done will put in a major top. I still think we can go a little higher and test the all times highs again maybe slightly over thrown them but IMO that's just part of the topping process and we are almost done. Hence I am not short yet but will be soon. I do not see any serious major upside left.
No market goes down in a straight line so I expect bounces and bear market rallies along the way, but my first real target is the 4100 area on the S&P which I see being done in two real down legs (lot of gaps). As I said I do expect a bounce in between followed by what maybe a strong bear market rally off the 4100 area but that is where I think we are heading first.
Note I said bear market rally because once that bounce is done I see the start of the real bear market. Simply put I see a crash meaning we are ultimately going lower than 4100 IMO. Housing will also be hit just as hard IMO despite all the BS about housing supply and demand and foreign ownership, heard it all before.
Worked in real estate for two decades and they always made the same arguments each time and housing still went to hell in a handbasket as it will again. Funny its always the same old its different this time hehehe. Just to be clear I only ever refer to US markets in these discussions as the ASX will simply follow along and has no real bearing.
Also please note, when I say markets could go a little higher I mean a little, no real gas left in the tank now IMO. The 4100 target is my 2024 I see us hitting that level this year followed by a decent bounce. Next year the real crash begins IMO. Good luck all but now I will sit back not say much and wait, going to be a fun ride once again, IMO of course hehehe.
P.S. I try not to post too much these days as this is as bullish as I get and it upsets a few
. A serious course in wealth transfer 101 incoming for most investors/traders IMO.
(20min delay)