S&P 500Long
SPX / Market forecast for new year
Back publishing again. This one is interesting and I don't want to fully give away how I came to this conclusion. It's from following another related set of data tracked over a year. It was very accurate and only failed once in predicting where the market will go in that year. That was around the time interests changed last year, maybe that had something to do with it.
When I say accurate I mean it recorded the direction, but not targets. So the line I drew to forecast on the chart is following some fib levels on where I think it will go.
So this may not be much value but I wanted to have it documented incase It is correct.
As the chart notes describe. We are in the middle of a 2 week gradual decline/ consolidation. Then we will pick up again for 7 weeks before we hit the next big chunk of consolidation.
No point forecasting further than 9 weeks on what is basically voodoo due to the lack of info given. I'll revisit this idea in 3 weeks. If it gets enough interest and the forecast is accurate i'll explain what I saw.
Thanks for reading.
When I say accurate I mean it recorded the direction, but not targets. So the line I drew to forecast on the chart is following some fib levels on where I think it will go.
So this may not be much value but I wanted to have it documented incase It is correct.
As the chart notes describe. We are in the middle of a 2 week gradual decline/ consolidation. Then we will pick up again for 7 weeks before we hit the next big chunk of consolidation.
No point forecasting further than 9 weeks on what is basically voodoo due to the lack of info given. I'll revisit this idea in 3 weeks. If it gets enough interest and the forecast is accurate i'll explain what I saw.
Thanks for reading.
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