Thinking we may still have one or possibly two minor waves in the tank left for this initial wave A , which will create an RSI divergence (in lower time frames) and initiate the B wave lower ahead of the chairman speech and rate hike. Thinking a capitulation crash before election is unlikely. Politically the FED will try to take the high road and moderate their hawkishness, ... so as to be seen as NOT influencing the election. This less hawkish rhetoric, plus a possible republican take over of the house will initiate a slow climbing C-wave up to around the 4,000-ish zone, before the market decisively turns lower. This is a (X_Y_Z) story which might make sense and might not BUT it looks about right. It will also frustrate those looking for quick money both short and long, and will not make sense to anyone , BUT just when it looks like the market has stabilized on top of the 4,000 the un-televised crash will occur ultimately to around the 3,000-ish level. Of course the market may hit the 4,000 on this first wave A, but at this mornings high I have started winding down and taking profit on a few longs but as always will leave some positions running wide and allow them to hit the top, Also will moderately be transitioning/ accumulating to a few small short positions. But that's me and not advise for anyone.
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