After precise forecasting of the reversal point on Friday, candles now suggest that indices are likely to take a pause. Let’s evaluate the perspectives of candles and waves for tomorrow and beyond.
All indices formed an Advance Block/Deliberation candle formations that typically expect a minor pullback that, in some cases, could develop into something bigger.
SP500 continues to move exactly as forecasted. The green path is primary. After completing wave “i” off the lows, I expect SP500 to pullback no deeper than $4625-35 before resuming the rally. Possible timing – 1-2 days of sideways – slightly downwards movements.
In case of a deeper pullback, the red count might become the primary.
SPX Mid Term Target was shared earlier:
SPX Long Term Forecast can be viewed here:
DJIA is also moving precisely as forecasted and wave 2 is expected to be shallow.
DJIA Mid Term Forecast:
DJIA Long Term Forecast for 2022-2023 can be viewed here:
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