As I said 100 times, the market is full of government manipulation. I don't see any real improvement worldwide. THEY are busy painting here, covering there. Between jobs, the market may drop a little. Here is a moment.
On weekly scale, the rally we are currently in started last Oct. We experienced 2 major corrections. Both of them are close to 61.8%. If we correct 61.8% this time, it may be in 1350s.
Daily chart is in trouble as well. The current support is around 1420-1430 area, defined by last high of 1420 and last retracement of 1430. Fork and channel and MA all park at the same area.
Here is my projection based on hourly chart. We will lose the support and test sub 1400 level which is the real thing. Then in early Nov, they will push it higher to maybe 1450s. After all the hyper is gone, it's time to do gravity check.
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