$SPX Targets: Either the w2 decline is complete, or there is a bit more downside

TRIGGER TRADES
2023-10-20

From the Wednesday high, we were expecting $S&P 500(.SPX)$ a sharp pullback to the low 4300 range.

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$S&P 500(.SPX)$ then declined 70 points sharply to those targets.

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Either the $S&P 500(.SPX)$ w2 decline is complete, or there is a bit more downside to do so.

If there is more downside, it should find support at 4254 before rallying w/ a break above 4311-4322 strongly boosting confidence in w2 completion.

If that occurs, the next leg up, w3, should be begin with targets of 4330-4350+.

Consider the loss of 4250 a warning sign the hard invalidation point of 4215 will be crossed.

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Time to buy treasury as Ackman close short position?
Bill Ackman, who short on long-term US bonds, tweeted on October 23 that he had closed his position, and said the high yield of long-term US Treasury bonds was unsustainable. ------------ Is it time to buy the US treasury? Are you bullish or bearish on treasuries?
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