Expanding triangle
Target: 49.5
In Elliot-Wave theory, triangles have 5 sides and each side is usually subdivided into 3 waves. Analysis valid as long as the channel stays intact. Equities will micro-bottom mid-June before the commencement of the melt-up rally!
Earlier analysis:
48.5/49.5 achievable with an extended market correction. Implied volatility uptrend due to fundamental reasons ( Inflation /War).
S&P 500 target would equate to 3950-4000 in this projection!
NASDAQ: 12K (Wave 1 top) or 11K (200 Week EMA / 50 Month EMA )
Target: 49.5
In Elliot-Wave theory, triangles have 5 sides and each side is usually subdivided into 3 waves. Analysis valid as long as the channel stays intact. Equities will micro-bottom mid-June before the commencement of the melt-up rally!
Earlier analysis:
48.5/49.5 achievable with an extended market correction. Implied volatility uptrend due to fundamental reasons ( Inflation /War).
S&P 500 target would equate to 3950-4000 in this projection!
NASDAQ: 12K (Wave 1 top) or 11K (200 Week EMA / 50 Month EMA )
