Amazing bullish candles were formed by major US indices today. The odds are strong bullish and a continued rally is expected tomorrow.
This daily overview contains:
– daily candle charts – analysis of candles and technical events;
– classical pattern in SPX;
– short term chart and forecast for SPX.
DJIA made a full bullish Engulfing; NDX and SPX formed an Inside-Up combos. The trends are bullish and supported by 8 EMA. The odds are strong bullish and a further advance is expected.
Odds: Strong 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 Today.
Flag target – $4950.
SPX is possibly working on wave v of wave (iii). Possible next target – $4880-4920.
The path was forecasted on December 20. SPX has grown 4% since then.
Enjoy the series of 2022 Long Term Forecasts for: SP500, ASX200, VIX, DXY, TSLA, Silver, Gold, GDX, Bitcoin, Ethereum, NaturalGas and Oil/WTI.
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