S&P 500 IndexLong
Analysis of S&P500
The main reason behind this analysis on top of technical analysis are the fundamental reasons:
Premise: Market is NOT in recession as...
1) Oil/Yields are not dropping
Refer to historical bear markets for reference
2) PMI above 50
During recession, PMI will contract below 50
3) W5 is missing
The elusive w5 has been missing from many Elliott Wave counters and this analysis explains it.
4) The effect of QT and rates hike will take 1-2 years to flow into the market
Refer to historical hikes for reference
Short/Mid Term (End of 2022): Bullish W5
Long Term (2023-2024): Bearish
-Divergence on momentum oscillators
-Oil, yield and market will be strongly correlated during this drop
Thank you everyone for reading my idea.
Premise: Market is NOT in recession as...
1) Oil/Yields are not dropping
Refer to historical bear markets for reference
2) PMI above 50
During recession, PMI will contract below 50
3) W5 is missing
The elusive w5 has been missing from many Elliott Wave counters and this analysis explains it.
4) The effect of QT and rates hike will take 1-2 years to flow into the market
Refer to historical hikes for reference
Short/Mid Term (End of 2022): Bullish W5
Long Term (2023-2024): Bearish
-Divergence on momentum oscillators
-Oil, yield and market will be strongly correlated during this drop
Thank you everyone for reading my idea.
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