👀 WEEKLY SUMMARY 23.12-27.12 / FORECAST
📉 S&P500 – 21st week of the basic cycle (average duration of 20 weeks) or 2nd week of a new cycle. The E-mini futures moved nearly $5K based on the technical signal from the support line formed by the extreme forecasts on October 14 and November 18. The pivot forecast for December 24-26, made two weeks ago, successfully worked out as a correction reversal. By the close on December 26, a strong daily signal to the downside appeared. There are still doubts regarding the cycle, so both scenarios are being considered for now. The next pivot forecast is on January 6.
⚠️ I continue to adhere to the opinion that a healthy correction is timely, considering the maturity of the basic cycle and the convergence of longer cycles. This has been extensively discussed in posts since mid-November.
🏆 GOLD – 7th week of the basic cycle (15-20+ weeks). It was a trendless holiday week but sufficiently volatile for effective intraday trades. Cycle doubts remain. If this is a new cycle, its beginning appears bearish. On January 13, there is an expected extreme forecast associated with significant moves in precious metals.
🛢 CRUDE – 7th week of the basic cycle (28 weeks). The market is in a state of uncertainty and technically resembles a complete mix based on moving averages. Nevertheless, the momentum from the extreme forecast on December 20 persists. I have no extreme forecasts for crude in January.
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