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The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

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Elliott Wave Analysis: SP500 Undegoing A Intraday Correction; Possible Support Seen Around 2120/2125

Markets are not moving much today, which is normal after very volatile moves during the US elections and Trumps victory. We see a few markets in interesting corrective set-backs which can give an opportunity to join the trend.

E-mini S&P500 is turning down for a three wave setback after a five wave rally had unfolded in wave A up to 2180. If we are correct, then a pullback should be 38.2% now, so be aware of 2120/25 area next week from where price may turn nicely higher. Around that region we also see a nice trendline on a daily chart.

S&P500, 30Min

S&P500 30-Minute Chart

S&P500, Daily

S&P500 Daily Chart

 


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