The S&P 500 is set to drop over the next 3 days. Based on Elliott Wave Theory application. Based on my calculations, the index should bottom out around 2767.51 during the middle of the day on Friday July 20, 2018. This is a quick and slight pull back. We are in the final stages of the 9 year bull market and playing every dip will certainly pay off.
I expect the index to rise mightily through September before the last minor pullback occurs. After November we could be in for the massive correction and bear market forecasters have huffed and puffed about for years.
I expect the index to rise mightily through September before the last minor pullback occurs. After November we could be in for the massive correction and bear market forecasters have huffed and puffed about for years.
Comment:
I missed the high point by a day, so the market could drop through at least Monday. The trend line appears to be strong support. A break below the line would most likely drop us to the zone I laid out between 2760 and 2785.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
