I am tracking two bearish scenarios for SP500 as it is difficult to imagine a rally which starts with that many corrective waves. However, there are indicators that might disagree with the candles and Elliott Waves.
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. 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 outlined in September 2021, 15 months ago.
The same chart taken now – below.
The 2022 Yearly Analysis .
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SP500 Yearly Analysis – Jan 2nd:
Weekly/Monthly/Long Term Analyses (DOW, NASDAQ, RUSSELL, Commodities, Precious Metals and other):
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