US Indices = Daily Analysis = 30.12.2021 #SPX #DowJones $SPY #SP500 $DIA #ES_F $NDX $QQQ #ElliottWave

Today’s candles in major US indices are bearish. However, lacking support from certain indicators, the formations require a strong confirmation tomorrow.

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

Daily
None of indices has printed an alarming bearish candle.
SPX made a weak bearish Engulfing that requires a strong bearish confirmation. The odds are neutral.
NQ needs to close below Monday’s low to form a top. Until this happens, the odds are slightly bullish.
DJIA has formed a Dark Cloud Cover with very weak support and also needs a confirmation. The odds a barely bearish, but that could change tomorrow.

The indices are somewhat neutral and could flip either way tomorrow.
From the perspective of weekly/monthly candles that also be forming tomorrow, unless indices fall 0.7-1%, the larger frames candles are expected to close bullish.
Odds: Neutral

CLASSICAL PATTERNS
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.


ELLIOTT WAVES

SPX
SPX is possibly working on wave iv of wave (iii). Once complete, the next target – $4900.

Good luck!

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