Here is our blog’s S&P500 Elliott Wave Analysis & Forecast for the 25th of Nov 2022.
Given the FED’s slightly relaxed stance for interest rate hikes going forward , I am more inclined to believe that the markets are sometimes overly forward looking and have probably priced in a softer landing going into Dec and the new year ahead.
Personally, I have a slight bias towards Scenario (A) with probably a X’mas rally on the cards as the holiday season are fast approaching and “Window Dressing” the books might also be on the agenda.
IF the price action on the S&P500 breaks the upper channel aggressively, I will likely enter on the pullback for a last ditch rally that can hopefully take us back to the ATH before the eventual massive drop that is forthcoming according to the Elliott Wave Theory.
Do take note that this impending correction will likely be a massive drop that is in the Cycle or Super-Cycle degree depending on your wave count sequence. Likely to erode years of gains that have been accumulated over the decades as forecasted by many Doomsday economists.
Kindly note that this is not financial advice, just my humble opinion on S&P500.
Please D.Y.O.D.D ( Do Your Own Due Diligence ) before taking any trades.
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