Nikkei's Weekly rising expanding wedge and a probable outcome

Here I'm showing Nikkei's Weekly rising expanding wedge with a throw over top. As such, the decline this year could be a partial decline followed by a quick rise. Throw over could be due to the unprecedented balance sheet expansion of combined BOJ, Fed and ECB. European DAX also shows a throw over top in its megaphone (broadening wedge) pattern. In another words, markets globally have responded to the extreme policy measures and have created throw over chart patterns. And thus, there may not be a deep decline beyond 2020 lows in this chart pattern according to my thinking. If this works out along with possible market cycle dates and some luck (!), October can show SnP 500 near 2,550 with the trailing PE near 18 this year. Which will obviously be very cheap in compare to the current trailing PE of near 30 for the price hovering around 4,200 right now. This chart pattern shows there may not be another higher high than the 4,238 printed for the SnP this year. Also to add, we might be facing a very scary straight line decline in SnP 500 in September and October to the tune of -38% which will be a little greater than the straight line big decline in 2020. That means more volatility this year than the previous year. In the end it will present a very nice opportunity to grab cheap assets at deep discounts all around us. Good luck and may God speed!

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