S&P 500 and raising the debt ceiling by October 18, 2021
Many believe the current correction in the market is due to uncertainty about raising the debt ceiling by October 18, 2021.
Keep this in mind The Congress, Senate, and the Oval office are in democrats' control, which makes it very unlikely that they fail to do that.
I believe if the same correction pattern continues, the market could go down another -3.6% by October 18-20! which makes it an -8.6% correction in total!
This S&P 500 regression channel should be considered valid until S&P500 close above or below it.
Regression channel setting (close,-2- 2 stdev)
I will calmly monitor this for the extra bargain in the coming days!
Moshkelgosha
Keep this in mind The Congress, Senate, and the Oval office are in democrats' control, which makes it very unlikely that they fail to do that.
I believe if the same correction pattern continues, the market could go down another -3.6% by October 18-20! which makes it an -8.6% correction in total!
This S&P 500 regression channel should be considered valid until S&P500 close above or below it.
Regression channel setting (close,-2- 2 stdev)
I will calmly monitor this for the extra bargain in the coming days!
Moshkelgosha