Which camp are you in? SPY based off of Elliot Wave Theory
Based on the Elliot Wave theory, there are three things that I think ya'll should check out. We are close to a correction but one of them is a two year bear market and the other is a 2-3 month correction before the next impulse wave to the upside. If you guys don't know anything about Elliot Wave theory, I highly recommend reading up on it. There are rules that must be followed but its pretty simple once you study it for a couple of days. Anyways if we sit below 320 on the SPY, we are in for a melt down that basically back tracks to March 2020 lows. If we bounce from 360, we're in for a big ride up to all new highs (SPY 500). But...that maybe the last leg of a real bull market that started in the 1990s (the beginning of digital age).
The question is what camp am I in? I think the Fed wants inflation. And I think there is inflation. I literally paid close to $80 for 15lbs of Brisket at Costco when it used to be $35 a year ago. Chicken just got really expensive too. Cost of food is up. I think the Fed wants to raise interest rates. The Fed knows it doesn't have ammunition to soften the blow when a true problem erupts e.g. 2008 crash. With Fed Funds rate at 0, there is no room for mistakes. So my answer is we are in for a big pull back down to 320 but less steep like 2020 and the start of the big correction ABC like 2003 - 2008.
Which camp are you in? What are your thoughts? Please like and share.
The question is what camp am I in? I think the Fed wants inflation. And I think there is inflation. I literally paid close to $80 for 15lbs of Brisket at Costco when it used to be $35 a year ago. Chicken just got really expensive too. Cost of food is up. I think the Fed wants to raise interest rates. The Fed knows it doesn't have ammunition to soften the blow when a true problem erupts e.g. 2008 crash. With Fed Funds rate at 0, there is no room for mistakes. So my answer is we are in for a big pull back down to 320 but less steep like 2020 and the start of the big correction ABC like 2003 - 2008.
Which camp are you in? What are your thoughts? Please like and share.
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