S&P 500 - Bull run to 3400 by July and finish at 3500 in Aug???
Taking everything I learned from the last 2 months and making a bold prediction for the rest of this rally. I don't see any major set backs stopping this bull now. We weathered 2 months of horrible economic news and this bull just kept running.
Based on Elliott wave theory, motive wave 2 is 1.6 of wave 1. Wave 1 has already been clearly defined April 19th at 2950. The next motive wave 3 will then be 3400. Just in time for 2nd quarter numbers. A sizeable correction during wave 4, and then right back up until mid-August to end motive wave 5. The next major wave after that will be a corrective wave, and all bets are off for what kind of havoc happens during that wave.
Based on Elliott wave theory, motive wave 2 is 1.6 of wave 1. Wave 1 has already been clearly defined April 19th at 2950. The next motive wave 3 will then be 3400. Just in time for 2nd quarter numbers. A sizeable correction during wave 4, and then right back up until mid-August to end motive wave 5. The next major wave after that will be a corrective wave, and all bets are off for what kind of havoc happens during that wave.
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