No change in the stock market forecast.  The BAM Model sees a massive crash coming that should take the SPX down to the BAM 529 magnet over the coming 2-5 months. 

I’ve had some questions regarding upside price targets and I wanted to clarify something. 
When we forecasted a “V” bottom in stocks back in March, we said the buying stampede should unfold into June and we mentioned price targets as high as the BAM magnet at SPX 1132.  But when the SPX started stalling into the 944 magnet we called a TOP in June and watched the SPX reach a high on June 1 followed by a 9% decline into July 8th. 

The entire move from the July 8th low into today’s high is a FALSE MOVE AND WILL BE UNWOUND 4X FASTER THAN IT UNFOLDED ACCORDING TO THE MODEL.

The majority seems to think the market has put in place a large head and shoulders low on the daily charts but any technician will tell you that, if that’s true, we should NOT move back down into that pattern especially if we’re in a bull market.

The model says we WILL move back down into that pattern and once that occurs you should see the technicians come out and talk about the extremely bearish implications.  (Failing patterns create violent fast-market moves in the opposite direction.)

Has anyone mentioned the fact that the weekly SPX RSI is as overbought as it was when we were trading at 1500? 

THIS IS EPIC AND I BLAME IT ON THE MULTIPLE INTERVENTIONS. 

No fear in this tape but I guess that’s what happens when Uncle Sam has your back.  Most seem to understand that the disco is on fire so, although you may be enjoying the music, we suggest positioning yourselves very close to the exit.