In this Elliott Wave paradigm, I'm assuming that SPX have completed a BULL Cycle with large wave 3 and that a possible Zig Zag correction is currently unfolding.
If that's the case then, we shouldn't expect any BULL Market or wave 5 before 2024.
However, the AI hype could boost the markets during the end of the year with a test of the 61.8% and maybe above that price level.
The PERFECT BULL TRAP will be in play if this case were to play out.
Of course, we could already assumed that wave B has already finished but I take DURATION into consideration and other macro economics factors.
I'm expecting a correction of of nearly 50% in the short term (next couple of months) to then see a rally up until the end of the year. Maybe November.
If that's the case then, we shouldn't expect any BULL Market or wave 5 before 2024.
However, the AI hype could boost the markets during the end of the year with a test of the 61.8% and maybe above that price level.
The PERFECT BULL TRAP will be in play if this case were to play out.
Of course, we could already assumed that wave B has already finished but I take DURATION into consideration and other macro economics factors.
I'm expecting a correction of of nearly 50% in the short term (next couple of months) to then see a rally up until the end of the year. Maybe November.