SPX complete EW count ends 2009 bullrun@6600 in 2023;see roadmap
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Note: this analysis was made factoring in impt Fib levels, a fractal megaphone pattern from 2018-2019, EW counts at multiple levels & also stock seasonality. So far SPX followed the general movements of this yellow fractal. SPX just recaptured red dma200 line & bounced off dma20. Also the green dma50 starts to have an upward trajectory. SPX have completed ABC, an expanded flat. It is making a new EW cycle currently at the small wave 4 down to the red dma200 area which was also wave 1 top. This may hold since EW theory states that wave 4 shall not cross below the top of wave 1. If 4500 & dma200 holds, wave 5 may start next week & may reach a retest of 4818 top start of May followed by a small abc correction during the bearish May. The bigger wave 3 may end sometime 4Q this year which I estimate to be around 5345(impt Fib level see chart). ABC wave 4 correction follows before a big final SPX wave 5 Sta Claus rally in DEC2022 to end In first half of 2023 at a ultimate destination of 6600. Correction on chart: 6600 is the 1.618 Fib Ext from 666 to 3400 Feb2020 top then to covid low. It is also the 3.618 Fib level of the covid plunge. This make it a very probable target. Not trading advice…just a road map If you appreciate my effort, pls like, follow & share.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.