Will S&P 500 See Big Gains Into Memorial Day Weekend?
Although the S&P 500 has had a more volatile year than 2017, I assess we are on the final leg up of the 9 year bull. I believe we have been in the third and most profitable wave since March 2009 at the market's last bottom. We should still run higher until October 4 - November 23 of this year with an ultimate market top between 3027 and 3194.
While that is my standing assessment, more importantly is this week. If my charting is correct, we are in minute wave 5 which will top up within the next 2-3 weeks. If this is accurate we could have a major week with a 20+ move up (if it moves lower, I assess we are in minute wave c of minor wave 2 and minor wave 1 occurred on May 20).
I am still working on my Elliott wave readings, but look forward to the week ahead. The catalyst for upward movement could be positive plans ahead of US-North Korea summit and trade deal between US-China that was achieved this past weekend.
While that is my standing assessment, more importantly is this week. If my charting is correct, we are in minute wave 5 which will top up within the next 2-3 weeks. If this is accurate we could have a major week with a 20+ move up (if it moves lower, I assess we are in minute wave c of minor wave 2 and minor wave 1 occurred on May 20).
I am still working on my Elliott wave readings, but look forward to the week ahead. The catalyst for upward movement could be positive plans ahead of US-North Korea summit and trade deal between US-China that was achieved this past weekend.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
