My theory about bill-day and afterward

Here is what I think will happen on bill-day and afterward.

Senate will pass the bill on Wed night.

As soon as the news hit the wire, futures will take off. We will rally till the morning to gap up and rally more during the regular trading hours to finish near the highs. Kind of a panic buying day.

Next day, we will gap down big, like 30-50 ES points OR we will reverse early in the morning. I prefer the gap down because it will trap maximum number of suckers that can provide fuel for the selling climax. I observed it, always works better.

This will be the true beginning of the terminal move which will end with that long-waited scary selling climax.

Before mid October, we will print an important bottom around SPX 1000 - 1050.

This is just a scenario based on a few analytical data I have on Fed days and similar panic buying days. Will see how it plays out.

ES is currently down about 8, I believe it will stabilize around 1150 tomorrow and wait for the bill to pass there.