#SPX #DowJones = Weekly Analysis = 11.12.2021 $SPY #investing #SP500 $DIA #trading #ES_F $NDX

The Market reversal call on Friday, Dec 3rd was perfect. We had a fantastic week in indices and, by looking at the candles, there is a good chance that the feast continues. Let’s evaluate the perspectives of candles and waves for the nearest future.

CANDLES

SPX, NDX and DJIA made weekly bullish Engulfing candles. The candles are well supported by certain indicators and at least one more week of higher prices is expected.

ELLIOTT WAVES

SPX
SP500 continues to move exactly as forecasted. The green path is primary.
There is a possibility of one more leg down in wave ii early next week, however, no deeper than $4625-35 before resuming the rally.
In case of a deeper pullback, the red count might become the primary.

There is a active call for SPX Mid Term Target that was shared earlier:
https://investingangles.com/2021/12/07/spx-next-target-07-12-2021-spy-investing-spx-trading-es_f-sp500-dowjones-ndx/

SPX Long Term Forecast can be viewed here:
https://investingangles.com/2021/12/04/spx-long-term-forecast-2022-04-12-2021-spy-investing-spx-trading-es_f-sp500/

DJIA
DJIA is also moving precisely as forecasted. The short-term projection can be viewed on the chart below. Wave 2 is expected to be shallow.


Recently I shared the mid-term and long-term 2022-2023 forecasts for DJIA. They can be viewed by the links below.

DJIA Mid Term Forecast:
https://investingangles.com/2021/12/07/djia-geometry-of-targets-07-12-2021-dia-investing-trading-dowjones-spy/

DJIA Long Term Forecast for 2022-2023 can be viewed here:
https://investingangles.com/2021/12/06/djia-long-term-forecast-2022-2023-06-12-2021-dia-investing-trading-dowjones-spy/

Previous SPX Weekly Analysis:
https://investingangles.com/2021/12/04/spx-weekly-analysis-04-12-2021-spy-investing-spx-trading-es_f-dowjones-ndx/


Good luck!

This analysis is part of the series of Weekly Analyses that our service provides on:
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