Welcome to the Traders Market Intelligence Report, brought to you by WealthBuildersHQ.com. My name is Robert Roy. This update is for Monday the 23rd of October, 2023. Hope you’re having a fantastic day. I want to go ahead and jump right into the market. I think I’m gonna actually start with breaking out into song, right? Run baby Run. I mean, look at it. Goodness gracious, the S&P 500, what a great move. I called it. I called it, we’re not done yet, but we’ve got one hurdle left with nothing then to stop us getting down to that 4181 level, which I’ve been talking about for a while now. Since we’ve rolled over here ever since that point, with these lower highs setting in lower lows looking really right for that, right about now. So we need to really back the chart up a little bit to get an understanding of what I’m referencing here, just so you get a full visual of what’s happening in the chart.

All right? So keep going, keep going. All right, so we go all the way back, way back here, way, way, way back here, right? Great uptrending move. And here this black line is our 4181 level. We pushed up once. We pushed up twice, we played around third time, fourth time broke, tested, bounced. Finally, right? We broke to the upside for it. We ran in this really nice bullish uptrend for months, okay? And then we started to show some weakness. We broke through this support line and we put another one in equal lane Highway, right? We came right back to it. We put another one in and we tested it once before, pulled back up and we’re back down again now, right? So now we’re all caught up, okay? Now as we bring this back into a better view let’s see. You know what? Let’s do it this way.

Let’s stretch it out that way a little bit so it just makes it easier to see. All right, so today we are down 53 points. It’s about 10 minutes after four markets close right now. We’re down 53 points right now and what’s happened, we broke the .618. That’s the purple line. The only vestige left, the only support, the only thing in our way right now is this downtrend line coming off of these, this move here. Let me actually draw it out. Lemme get it in. Ready to be more visible. I think this move in here has been amazing, and we’re sitting there right now. We broke through, chipped away at the ice, set it yesterday in one of our trainings. We chipped away at the ice. Today, we chipped away again at the .618. All we have left, all we have left is to break through that downtrend line and there ain’t nothing stopping us down to 4181. Now, it doesn’t mean it’s happening this week, maybe the week after. The week after that, we’re looking at this saying, are we gonna get any kind of bounce at this? We’ll call it a confluence of the .618, the most powerful number in the universe, and this downtrend line. We have a confluence between those two right now, what we bounce there, if we do, that’s okay. Where do we go? Our next F line to the upside, which is the 50 percentile, 4276, right? If we break to the downside, we’re looking at 4185 with that 4181 down there, and then not far below is a 10% correction on the S&P, that would be 4116.36 is our 10% correction, and I’ve got 20 down here as well, which is our bear market, right? We got a long way to go for that one though, right? Right now I am just hopeful. I don’t wanna say hopeful. I’m expecting the 4181 to be our next target, right to the downside. And there you have ladies and gentlemen, have a great rest of your day and I will see you all at our next update. Make sure you subscribe for more news like this. Take care, folks. Bye.

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