Scott: Support zones. No, because the market would still be grossly overvalued at that point. The market would only be down 12.7% off of its highs as it hits the moving average. And not much more at the 3k mark. That chart was just a medium-term outlook for where I see the market going next. Ultimately, I believe it drops much further over a longer period of time.
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S&P 500 gapped down lower today. Huge selling pressure today. Of course, I’ve been calling for that, ahead of time. So it was to be expected.