SP500. Is market "re-act" from FED or vice versa? 29/Dec/23SPX's chart/market is driven by Fundamentals ( FED) as most traders perceived. But I do agree with Robert Prechter and Alessio Rastani that market/ chart is driven by the "rotating cycle" of "supply/demand" rather than news/fundamentals even though I don't agree Robert Prechter with (Founder of Elliott Wave International) have been calling for major crash (which is severe than 1929) for many years
Robertprechter
UKOIL forecast for the next 10 yearsas you see on the chart
i think there is a millennium degree wave on monthly timeframe as wxy
already we are in the beginning of the wave 2 of c of y
this correction could decrease the price up down to 65$ and keep it there for next 2 years
but
if the chart breaks 85$ up , then we have a wave with the last high peak high around the 145$
wave y target is the top of the high to high uptrend around 350$ till 2030
Crypto total market cap forecast 3.2t zone is an important reversal zone based of Fibonacci PRZ and also Elliott waves theory
we are now in the wave 5 of impulse of E
if the chart breaks up and fix over 3.2t the higher targets could be available
i think probably we have a zigzag or other form of correction soon
the correction will be the wave 2 or b of a higher cycle
Herbalife, HLF, Elliott Wave Fractal Comparison. Possible wave 4"Beautiful Pictures from the Gallery of Phinance", Robert R Prechter Jr.
Copyright 2003 Robert R Prechter Jr.
Pages 18 & 19
The drawings I've added to this chart are directly pulled from page 19 of the book mentioned. The original charts referenced are the DJIA from 8/24/1921 to 09/03/1929, and the second chart in the comparison is the DJIA from 12/06/1974 to 01/14/2000. The similarities are many.
The reason why I took interest in this chart is because I noticed a huge boom in social media marketing by Herbalife distributors, pushing their products and heavily recruiting new customers and new distributors. The chart immediately reminded me of the Elliott Wave Fractal so I decided to compare. It looks good and I am assuming a long to somewhere near the $80 - $85 range. I don't want to get too specific but I expect the final waves (4 & 5) to end sometime near the end of 2019, roughly 12 months from now.