The Post-US presidential election market has been generous to most investors. First it turned up as we anticipated, see here, second -and believe it or not- the market is sniffing out additional long term economic expansion under Trump.
Enough said, on to the market. Below is a chart of the S&P500 showing its advance off the February low. The colored numbers show our Elliot Wave (EWT) count. The blue and red line are the 50 day and 200 day simple moving averages. Below price is our A.I. Buy/Sell Indicator which gave an ideal (very strong) buy signal (solid green up arrow) recently. See here.
What this all means is that the market is about to embark on a very strong move up; what’s called the 3rd of a 3rd wave in EWT terms. But, before that can happen the market does need to shake out some weak hands first and wrong foot many. That’s why we labeled the green 1 a bit above current price and green 2 below current price to show where we expect minor wave 1 and 2 to end. Note wave 2 still needs to happen: the shake ‘n bake move.
Please sign up here to become a premium member so you will know exactly where and when green wave 1 and 2 will end as well as the next large up moves. Note: If the S&P500 continues to move up over the next weeks and goes beyond SPX2209, the larger up move has already begun!