The market moved up significantly, mostly to confuse everyone, on July 31, 2024. The two days sell off after FOMC meeting was significant. Even I had a second thought about the market rally on July 31, 2024. At the time of writing these predictions by early AM hours of New York Time on Monday, SPX is expected to gap down 3%. It aligns with my predictions that is covid like crash.

As I mentioned last week, people went long on SPY put options expiring Sep 30, 2024 can consider closing your position for many X of profits. People went long on VXX call option may have a fortune day when market opens on Monday Aug 05, 2024.

At present I stand by the predictions I posted in the video on July 11, 2024. We may see market bottom either around Aug 15, 2024 or Aug 26, 2024. It will be very difficult to trade as volatility is huge. If you miss this boat, you need to wait for the market to bottom correctly.

You can use DCA method to buy stocks at small quantities and accumulate them gradually. Also buy put options to hedge your stock position. This is a good strategy for conservative investors.

Weekly Trading Forecast