US Indices = Weekly Analysis – Bullish? = 08.01.2022 #SPX #DowJones $SPY #SP500 $DIA #ES_F $NDX $QQQ #ElliottWave

I begin this weekly review with a very simple, but effective Classical Pattern that $NDX has completed, a rectangle. The index is in the Inflection Area and a move upwards would suggest a 13% rally in the next 2 months. A strong move downwards would mean at least a 7% fall towards the October lows.
While the daily and weekly candles look very bearish, the bullish odds are never zero and there is only one reason that keeps me bullish for the next week. It was discussed in this Weekly Analysis for VIX.

This Weekly Analysis contains:
– daily candle charts – analysis of candles;
– classical patterns in SPX and NQ;
– short term chart and forecast for SPX.

CANDLES
Daily

Among the 4 daily charts, only QQQ has confirmed a move to lower prices. SPY and IWM printed similar combos that are rather neutral and have slightly higher chances to resolve upwards. DIA is actually bullish with a Ladder Bottom/Morning Star.
While there is some uncertainty and confirmations are required, the daily frame is slightly bullish and a strong green move on Monday/Tuesday would be able to confirm a reversal.

The Elliott Waves view on SPX is quite interesting and there are a few options I’d like to discuss.

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This study is part of the series of Weekly Analyses that @InvestingAngles provides for the Followers and Subscribers.

Long Term 2022 Forecasts

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A $10 USD monthly subscription gets you access to the monthly and weekly analyses, mid and long term forecasts for cryptocurrencies, major US and some world indices, precious metals and miners, commodities, popular stocks and more. There is no free trial. For $10 USD you can evaluate the service for a month and discontinue the subscription at any time.
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