This Alert was issued 1 hour before the closure on Thursday, October 6th. Do you remember what happened on Friday? I hope my subscribers took cover and benefited.
The damage would have been worse if not a rally in oil, but it looks like it will be fixed on Monday (read the Oil Weekly and other Weeklies – link at the bottom).
This SP500 forecast (chart below) was shared with subscribers on Sep 20, 2021. The index is moving down as prescribed and the only question is about the actual path which we will discuss today.
In this weekly analysis, I will evaluate the candles that SP500 formed on multiple frames, compare them to the candle formations in other major US indices and some global indices like DAX, CAC, ASX and FTSE, overview the health of Large Caps such as MSFT, AMZN, AAPL, FB, XOM, NVDA, GOOGL and TSLA. We will discuss technical events on different frames and analyze the long- and short-term perspectives for SP500 using Elliott Waves.
This analysis is part of the @InvestingAngles Weekly Series for US and global indices, Crypto, Commodities, Currencies, and some Large Cap stocks.
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