Phoenix_gruppe
USDRUB ~ 118After strong strengthening, the ruble again went looking for a bottom, which it does not have. At the moment of the high, near the top, the Central Bank of Erafia introduced a spread of about 30 rubles, so the top should be considered ~ 158
Taking into account that the correction started with an impulse, according to the Wave Theory this is only the first part of the zigzag called A.
The nearest reversal level is ~ 103
Strong reversal range ~ 114-118.
SPX ~ 5800 Possible VariantAfter the covid monetary policy, and helicopter money handouts, the cycle of tightening and rate hikes to fight inflation began. At this point, there is already talk that it is time to lower the rate, although let's be honest - inflation has not gone anywhere, and continues to grow. In this case, we will get a secondary inflation already structural, which again will have to be flooded with free money.
Apparently it is obvious only to me that it does not work and Mr. Powell is making the same mistakes that were made by all Fed chairmen before him:
Paul Volcker 1979 - 1987
Alan Greenspan 1987 - 2006
Ben Bernanke 2006 - 2014
Janet Yellen 2014 - 2018
In this situation, which will happen again with a 95% probability - The SPX index has the option of developing a diagonal triangle, which in Wave Theory has a form called a Ending Diagonal.