#SPX #DowJones = Daily Analysis = 20.12.2021 $SPY #SP500 $DIA #ES_F $NDX #fintwit $QQQ $IWM

SPY, DIA and QQQ closed today with candles that can signal a reversal. If confirmed tomorrow, we could have a nice Christmas rally.

Let’s evaluate the perspectives of candles and waves for the nearest future.

CANDLES

All three indices ETF printed a Morning Star/Inverted Hammer type of candles that can mark a significant bottom. Strong green candles tomorrow would likely confirm the intent. The odds are bullish-neutral.

ELLIOTT WAVES

SPX
The green path remains the primary until invalidated on the short term chart.

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/

If the next weekly/monthly candles make bearish formations, a bear path becomes primary:
https://investingangles.com/2021/12/19/spx-long-term-forecast-bear-19-12-2021-spy-investing-spx-trading/

DJIA
DJIA has not invalidated the bullish counts as well.


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 & Target:
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/


Good luck!

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