NFP Fades, $SPX Still Faces 200-DMA Rejection Risk Ahead of CPI

TRIGGER TRADES
04-04 11:21

NFP was a dud.

Monday still could give us the 200-DMA rejection — that door isn't closed.

$S&P 500(.SPX)$ $E-mini S&P 500 - main 2606(ESmain)$

But a quiet day on Monday puts CPI Friday on deck as the catalyst for the next wave down.

Corrections don't always fall clean.

The largest ones make you wait — building energy for the next move.

My projection reflects that.

As I wrote yesterday:

SPX pulled back to the bullish Daily FVG at 6554–6427 and bounced sharply — as warned.

Price is set for a push into the 200-DMA near 6650 to complete the correction.

Then the next wave down begins.

NFP drops tomorrow with markets closed.

Monday re-open could be the catalyst if we pop.

If $ES closes below its Daily FVG (6481), the wave down triggers early.

Either way — this rally gets SOLD.

6178 is still the destination.

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Buffett Said No to "Bottom Fish": Is He Waiting For Further Decline?
The recent market turbulence has rattled plenty of investors. Yet Buffett brushed it off in a single line: "This is nothing." In his own historical frame of reference, Berkshire Hathaway's stock has gone through three separate drawdowns exceeding 50%. Measured against that, the current pullback barely registers. He said, "We aren't in it to make 5% or 6%." "If there is a big decline... we will deploy." Q1: What does Buffett's "big decline" actually mean to you? S&P 500 down another 10%? Q2: If you were Buffett right now, what would you do? Q3: What's your current positioning?
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