Over the past weeks, see here and here, I’ve kept you abreast of the S&Ps and NAS’ performance and that I continued to expect higher prices. That we got for both, but the NAS peaked sooner than the S&P and the latter may have experienced a failed 5th (e-wave). For the NAS I was looking for ideally $6965-$7030 and on December 18, $7004 was reached. Bingo! The chart below shows the wave count. Since that day all the NAS (and NDX) did was decline. Hence, it appears that $7004 was close enough and we may be at the start of larger correction. The S&P most likely fell short of it’s $2725 target, but still topped well within the SPX2675-2725 target zone I’ve had for a while for my premium members. So what’s most likely next? To read in much more detail about the NAS, S&P and other indices, please visit the weekly digest archive and click on the “Special New Years Update” link: here.
This Special Update is this week’s Premium Member weekly digest made available for free as it is a special occasion: Happy New Year! and it as a token of appreciation to thank all of you for following me here on my website, Facebook, Twitter, and Instagram. I look forward to many more successful years! Aloha, Soul.