SP500 Update

The SP500 has been on an uninterrupted path, which I first detailed in my March post -
I continue to believe that we are in an ending diagonal of ABC expanded flat that will precede a major price decline into the end of 2023 or even 2024.


As is often the case, waves unfold slower than I anticipate (this is a human bias that I work hard to overcome), but confidence in the outlook is growing.

To address this timing bias, I introduced wave y as a triangle in combination with (x), which fits the timing and mood in the markets roiled by debt ceiling negotiations nicely.

The larger picture is addressed in an article on my website.