The chart above is just a personal EW view of the probable future S&P 500 index oscillation pattern. Assuming 1840 was the end of wave 4 or A then the current rise could drive values up to 2167 without altering the characteristics of a wave 3 or c. However after the predicted pivotal date of February 1st, the type of motion will be clarified, i.e. wave B or 5.3. As always the market will guide us through the relevant technical signals altering as necessary the above plan.
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cfetrader
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Continuing on the subject of forecasting, herein presented is yet another (bearish variant) chart adopting this time Dow Jones data.
cfetrader
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PS: Graphics correction. In the chart above the first (c) should be erased since the actual (c) is composed of (a)*-(b)*-(c)*.