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A New Downtrend Begins For The Dow and S&P 500

ByAlexandros Yfantis
Published 06/27/2012, 03:44 AM
Updated 07/09/2023, 06:31 AM

Both the DJIA and the S&P 500 have made downward impulsive moves from recent June highs. Both indices have made 5 waves down.

Things couldn't be clearer as far as the wave struture is concerned. This could very well be the 1st minor wave of a larger 3rd wave that has targets towards 1100 S&P  and at least 11700 in DJIA.
INDU CHART
Alternatively, such a decline could be postponed if the market is in a process of a more complex wave 2 correction as mentioned in previous posts. In this case it is possibe that the market might move a little bit lower and then make a final upward move above June highs. Thus labeling this downward move as wave X.
SPX CHART
Either way our longer term view remains downward biased. So now we wait for either a minor degree wave 2 or the 3rd and last part of the upward correction that begun in early June.

Disclosure: None of the information or opinions expressed in this blog constitutes a solicitation for the purchase or sale of any security or other instrument. Nothing in this article constitutes investment advice and any recommendations that may be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. Any purchase or sale activity in any securities or other instrument should be based upon your own analysis and conclusions.

Latest comments

how does he get to write such rubbish? it's going to go down badly, unless it doesn't. what a freaking amateur.
Boy was he wrong , 9 years ago
stop showing this post on homepage atleast   this is a 2012 post
it almost misled me. they are so silly.
sky is good
Sky is falling…..sky is falling.
imagine you follow these kinda article, where would u be today???
Broke if u targeting 1100 SPX
USD500
Why do these old articles suddenly pop up in my news feed... So annoying
looking at the back mirror is refleshing experience! reminding one about how difficult to predict market
Haha... you are right
veteran leader 1521.. mostly pilino.. history
Hi
hello
waves of pure imagination , market might be extended some but there has never a covid 19 before and a recovery afterwards.
Report is from 2012...Covid nowhere....
Lol, you didn't even check the post date!
Finally, an article published from the the future. 😅
Negative, 2012 is most definitely well into the past
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