SUMMARY
I'm getting more and more requests as well for stocks and commodity analysis. For quite a while, I've been holding back on these but have decided to meet these requests. To that end, below is my current assessment of the S&P 500. Feel free to submit individual stocks you'd like analyzed and I'll try and fit them in!
The SPX is most likely patterning out an abcde triangle consolidatio as shown below. This means a potential wave E decline into mid May or so. Would you be taking BUYING or SELLING actions at the E wave level? Overall, I'm uber bullish on the equity markets. With the sizable corporate and citizen income tax cuts made by the libertarian hated Trump Presidency....it'll be the trigger for a new bull market that could last 5-10 years.
Volume is also expected to continue declining into this consolidation patern. The bottom trendline needs to hold against any decisive breach; though temporary piercings are more than desirable! These are what bull wicks are made of!
I believe the equity markets are in for a very fine and profitable 2018. SPX $3k level shouldn't be an issue! For those who are using the Aggressive ETF Strategy...the returns should be might!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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