#SP500 = Daily Analysis = 04.01.2023 #SPX $SPY #SPY #ES_F $SPX #investing $QQQ $DIA $IWM #fintwit $MSFT $AMZN $AAPL $TSLA $XOM $CAT $JNJ $KO

Neither SP500 nor RUT has registered an event which would alter this path yet. The paths were first shared on November 24th.

In this Daily 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 Large Cap stocks. We will discuss technical events on different frames and provide the long- and short-term targets for the next moves.

The long term SP500 perspectives were outlines in September 2021, yes, 15 months ago.

The same chart now – below.
The 2022 yearly analysis .

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Today, indices ETF formed primarily neutral candles that can resolve either way. The technical daily trends remain bearish.

SP500 closed December with an active quarterly MACD cross. The estimates for the index path after the cross were discussed on September 25th.

Let’s now have a look at Elliott Waves.


The long term chart below was made 15 months ago. The current hypothesis is that SPX completed wave A of IV in June and possibly done with wave B in December.

I continue to track two paths for the whole correction – green and red.

Wave B ended and wave C is gaining momentum.

Wave 3 is underway.

As you can see, both counts expect an acceleration down for the next several weeks.

Target area (fibs): $3000-3270
Golden Section: $3145

Micro Path

Possible bearish micro path was last adjusted yesterday. A move above the top of (2) will invalidate it.

Classical Flags
No changes in this section.


SP500 continues consolidation before the next move which is likely to head downwards.

There is no indication of a bullish reversal on the short term frames. As I indicated earlier, “in order to reverse the long term bearish trend, SP500 needs to develop a monthly, technically supported and confirmed reversal candle.” The index failed in November and in December.

SPX Targets
Mid term target (flag): $3434-3285
Long term target (fibs): $3000-3270; ideal – $3145.

Good luck!

Latest SP500 Weekly Analysis – Dec 26th:

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