The major indices are making what looks like an expanding triangle (it is difficult to predict an expanding triangle before it completes). We can make some assumptions based on that:
1) The current decline is only a pullback and is considered a b wave in the larger E wave of the expanding triangle
2) Given B-C of triangle took appx. 6-7 years, we should expect...
"The Inflation Genie Is Out of the Bottle", I'm still predicting a recession soon, but the the long-term trend for inflation and interest rates seems to have shifted or will shift soon.
Oil is at resistance, look for a move down over the next 1-2 years followed by a massive rally above ATH. This shows oil has been in a 5 wave move ever since 1970s. 1970s was the beginning of the petrodollar. The 5 wave move is a diagonal and is most likely ending diagonal or leading diagonal. Either way look for a sharp correction after every thing is done.
Back in 1/21 I said oil had bottomed and was in an uptrend. Now we completed 5 waves and are up against resistance. We are in for a top, and we will go down in 3 waves. The last 2 times oil topped the market also topped and crashed. So, we are due for a market crash soon, along with a correction in oil.
Note: The exact top might not be here, but we are at...
I'm expecting a major top around summer time. This will make Cycle wave 3 that began in the 1930s, once this forms there should be a 3 wave move that will be like a flat very similar to 2000-2009 and 2018-2020 corrections. This will last longer than a decade.
Hyperwave projection for the market based off of weekly 200 MA. The 200 MA has been sloping up ever since 2020 lows. Based off of angles of 200 MA we are only in phase 3 of hyperwave, so this isn't even the final phase! expect an explosive almost vertical move soon