$SPY -Where We Are Going From Here?
|On Thursday, May the 2nd, 2019 we at Elliott Wave Forecast hosted a Free Seminar explaining our views in the SPY and some of the World Indices. We covered them in the Grand-Super cycle, Super-cycle and also in the Intermediate cycle.
We explained which tools we use to forecast the Market and why the SPY should see another extension higher from its 2009 low, as far as 12.2018 low is holding. We explained why the FTSE Index is a key instrument to determine the next big swing higher. We also covered why the cycle from 12.26.2018 should be ending soon and start a pullback. But for now, it still can see another leg higher. After that, it should enter a period of weakness. Which can be used to buy the ETF again in the sequences of 3-7 or 11 swings.
We also overlayed the SPY ETF Monthly chart with the FTSE Index and provided the reason why after a pullback, more upside should be seen.
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