Holiday Shortened Week Will See Fireworks in S&P 500
This brief projection is based on a full study of the current Intermediate Wave 1 I am tracking for the S&P 500 index. We will see upward movement to begin the week with a top in the afternoon on July 2, 2019. We will likely drop 5-10 points into the close on this day.
The light blue numbers with parentheses around them represent each wave's end point for the Minuette waves. These projections are likely to be the most accurate on this projection chart.
The orange roman numeral 4 with a circle around it represents the projected end point for Minute wave 4. This is relatively in place, but likely to change based on the actual movement experienced through Minute wave 3 (orange roman numeral with circle around it).
The ultimate top for Intermediate wave 1 is currently projected to occur in the afternoon on July 8, 2019 with a peak around 3048-3064. This would mean a new all time high is set to occur (likely multiple times between now and then). In trying to apply real world events to a reason for a top and then a decline would likely revolve around the Fed. They will most likely NOT cut interest rates as many expect. They may however leave the door open for cuts as necessary in the future. This could see the index pullback over a total of 8 trading days with a bottom around 2875.04.
I am forecasting Intermediate wave 3 to be incredibly strong and last for up to 2 months or around the time of the 2020 US government fiscal year begins. It would be earnings season which could be the reason for a rising market (even if it is not fundamentally warranted). The end of the 2019/beginning of 2020 fiscal year could likely lead to a partisan fight in DC over what the budget should look like especially in a pre-election year.
This is as far out as I plan to forecast for now, and will adjust as necessary. I am bullish on the market until the second quarter next year. I foresee a major recession beginning next year well before the 2020 election.
The light blue numbers with parentheses around them represent each wave's end point for the Minuette waves. These projections are likely to be the most accurate on this projection chart.
The orange roman numeral 4 with a circle around it represents the projected end point for Minute wave 4. This is relatively in place, but likely to change based on the actual movement experienced through Minute wave 3 (orange roman numeral with circle around it).
The ultimate top for Intermediate wave 1 is currently projected to occur in the afternoon on July 8, 2019 with a peak around 3048-3064. This would mean a new all time high is set to occur (likely multiple times between now and then). In trying to apply real world events to a reason for a top and then a decline would likely revolve around the Fed. They will most likely NOT cut interest rates as many expect. They may however leave the door open for cuts as necessary in the future. This could see the index pullback over a total of 8 trading days with a bottom around 2875.04.
I am forecasting Intermediate wave 3 to be incredibly strong and last for up to 2 months or around the time of the 2020 US government fiscal year begins. It would be earnings season which could be the reason for a rising market (even if it is not fundamentally warranted). The end of the 2019/beginning of 2020 fiscal year could likely lead to a partisan fight in DC over what the budget should look like especially in a pre-election year.
This is as far out as I plan to forecast for now, and will adjust as necessary. I am bullish on the market until the second quarter next year. I foresee a major recession beginning next year well before the 2020 election.
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!!
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