US Indices = Daily Analysis = 29.12.2021 #SPX #DowJones $SPY #SP500 $DIA #ES_F $NDX #fintwit $QQQ #ElliottWave

From Monday’s forecast: “a horizontal or slightly downwards movement for 1-2 days would be the most expected behaviour.”

SPX is moving along as forecasted 8 days ago and is likely to continue upwards this week.

This daily overview contains:
– daily candle charts – analysis of candles and technical events;
– classical pattern in SPX;
– short term #ElliottWave charts and forecasts for SPX, NDX and DJIA.

None of indices has printed an alarming bearish candle.
NQ and SPX moved horizontally and printed consolidation combos that are likely to resolve upwards.
RUT’s green candle greatly mitigated the possible impact from a Dark Cloud Cover. The odds are neutral now. The 8 and 20 EMA made a bullish cross. If confirmed tomorrow, the mid-term trend is likely to change.
DJIA has formed an Advance Block on the last three candles. Some short term weakness would be normal for tomorrow.
As long as the indices do not close the next few days below the mid-point of Monday, the odds remain slightly bullish.
Odds: Neutral-Bullish

On December 7, SPX completed a bullish flag pattern that was discussed with the subscribers. The charts below were taken on Dec 7 and Dec 27.
Flag target – $4950.


SPX is possibly working on wave (iii).

As discussed before, if SPX moves through $4750-4760 area, it would open the next target $4850-4950:

DJIA seems to be on track for at least $37-38k.

The short term chart for NDX will be posted later:

Good luck!

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