Deflationary Depression? I am in complete agreement.
In the SPX, I have been watching for a peak on the two-year anniversary of the high in the ^IXIC, which is the 22nd(and perhaps a gap fill from the August 2, 2023 gap?)...but it could come in early. Rest assured you better have plans after this turn because you're heading into the drink. The "Twin Peaks" Formation is now complete and the secondary peak does not usually make a new high...although, it is possible, but the odds are low.
This peak is where you walk away from all other patterns and follow the conclusion of the "Twin Peaks" specifically. I'll get right to the point....a literal nightmare is unfolding right before your eyes. The pattern is now complete.
In July I was adamant about this advance from the October 13, 2022 lows being akin to the secondary advance(to the peak) in the Cryptocurrencies...both numerically...and psychologically speaking.
So...
With my "parting shot" I'll say this. Bring up BTC from June 21, 2021 to the "secondary peak" at November 9, 2021.
Now...take a look at MSFT from its November 4, 2022 low to the secondary peak were attempting to put in at this very moment.
Please note the pattern...
Once you're back through 350, it's game on IN ALL MARKETS. 225 will be the first point of rest.
Have ZERO concern with NVDS.
You're traveling with me and I'm not in the business of guessing.
I won't be here at 2,240 to 2,250 in the SPX...You'll soon see me popping up in some other fashion.
Please remember. This market will not resolve itself...for years.
Everything you need going forward is in my charts in the archives. Nothing new is needed...
Best of luck to all.
The CoinGuy
oh...and...
I have again looked over the BIM 5.0...it's dated, but it still stands.
What you want to watch for is this. 1,920 in the ^XOI AND the GLD(at 192). These are walls...IF those walls are broken, you have to respect them. If each market falters....then you know the truth as to where both of them are going...and...don't forget the SPX IS in the same boat....4800 times 4 is?
192? No one, not one bothered to ask. Why?
I'll say it again. Everywhere in this market right now. Look for 35/70...it is the KEY to the stock market.
For my goldbug friends. Gold(and silver) can decouple here, but the likelihood is quite low. As of this moment, I believe we're going to walk with the broad market through one more decline...then walk away, but I could be wrong. 192 in the GLD will tell you the truth...let everyone else be a liar.
If the GLD walks the path of the BIM 5.0 it will take you completion.