2022 - Interest rate hikes & Market decline
Following the COVID crash of March 2020, the bottom of the market was found at 2388 on March 23rd, 2020
Starting Wave 1 which subsequently ended at August 20th, 2020 and closed at 3452
After a minor retrace ending at September 7th, 2020 at 3281 to the .236 fib level
Wave 3 reached $4523 on September 7th, 2021. Then retraced to 4380 on September 21th, 2021
Wave 5 peaked on January 3rd, 2022 at $4808
The federal reserve is expected to hike interest rates 3-4 times in 2022 or will face increased inflation and USD devaluation.
Due to these hikes the market will begin a correction and follow the drop at the start of the year. Traditionally, January sets the tone for the rest of the year so expect the market to drop.
PSAR filled negative for the first time since April 2020
MACD 8/16/11 flipped negative
Short opportunity available with a stop at the peak of wave 5 and potential to hit the profit targets of .382 - .618 fib retracements.
Starting Wave 1 which subsequently ended at August 20th, 2020 and closed at 3452
After a minor retrace ending at September 7th, 2020 at 3281 to the .236 fib level
Wave 3 reached $4523 on September 7th, 2021. Then retraced to 4380 on September 21th, 2021
Wave 5 peaked on January 3rd, 2022 at $4808
The federal reserve is expected to hike interest rates 3-4 times in 2022 or will face increased inflation and USD devaluation.
Due to these hikes the market will begin a correction and follow the drop at the start of the year. Traditionally, January sets the tone for the rest of the year so expect the market to drop.
PSAR filled negative for the first time since April 2020
MACD 8/16/11 flipped negative
Short opportunity available with a stop at the peak of wave 5 and potential to hit the profit targets of .382 - .618 fib retracements.
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