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StevenRodas

SPX Looking Weak

Short
S&P 500 Index (SP:SPX)  
StevenRodas  
SP:SPX   S&P 500 Index
Fibonacci Chart Patterns Wave Analysis ellliot wave warren buffet GDP Stocks market CAP
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fibonacci chartpattern waveanalysis ellliot wave warren buffet gdp stocks market cap
So upon looking at several factors I believe the price of stocks are fully priced atm, and that 2900 was the top for the SPX, I believe the bottom will be around 1580 or 1800 and will take about a year for us to reach the bottom, so by the year 2020 we will see bullish momentum again and that is when I will be looking to enter stocks again. Right now in my opinion the best asset to hold is bitcoin and gold,

Reason for 2900 being the top,
1. End of 5 wave count based on elliot wave analysis
2. Stocks are overpriced based on Marketcap over GDP
3. Time analysis, we have been in a bull market for 10 years
4. Stocks look similar to the late 1930's
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