BOA, Ray Dalio, Charlie Munger, Grantham, Dent, Gundlach and Wesbury are all bearish and it seems that no one is listening– price will tell us in time.

S&P500 lows for the bear market 2022/2023
This is not trading or investment advice – this is educational information using Algo Futures Trader 8 swing pivots indicator for NinjaTrader 8 on a weekly chart to derive levels from the AFT Swing Pivots Indicator and the built NinjaTrader 8 Fib Retracement drawing too.. to get your copy for free visit Downloads

Price action will tell us what the market does -that is the only single source of truth – market price. However we can project levels of historical price points for a view of where the market might go to and bounce or break and this provides additional analysis and clarity of the bigger picture.

• S1)3639 current support from initial leg down.
• S2)3450 retrace and then a down to the 50% level from the COVID era low to high
• S3) 3200/3100/3000 pre COVID high as a significant bubble deflation level
• For a bubble burst we will know within 6months
• S4)2700 2680 76.8% retrace
• S5)2600/2500 figure
  • 2600 is a 50% retrace from low of 2009 to high of 2020
• For a super bubble meltdown – COVID Low
• S6)2200
• S7)2100/2000 – 2100 is a 61.8% retrace from low of 2009 to high of 2020 and COVID low
• For the all time super bubble super meltdown
  • S8)1700/1600 – 2016 Zone pre trump rally.

Looking at the Monthly Chart S&P500 levels of Support

• 2600 – the 50% retracement from the low of 2009 to the high of 2020 is the 2600 zone…
• 2100 and a 61.8% retracement and COVID low – what a combo!!!
• Below this the Pre Trump Rally Levels 1600 zone.

Summary of levels

• Retest bounce or break current swing low support level of 3639
• Retest of the 50% retrace of COVID low to all time high – 3450
• Below this a 61% retrace and pullback COVID rally bull flag base – 3200
• It is conceivable a flash down and bounce at 2000/2500 levels could occur
• Time will tell via price action -that is the one single truth of all opinions.

A Day Traders Perspective

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