Hello all,
I do not typically do any analytical content out side of cryptocurrency, but with the state of the markets and everything happening I thought I would take a look. This analysis is just a simple thought process so do not trade based off this.
S&P 500 in Elliot Wave Correction. This seems to be a possibility. After the unfortunate spike in the confirmed cased of Covid19, the market took a hard hit, again. This new wave of cases is possibly linked to the increased crowds, parties, and gatherings for memorial day a couple weeks ago. If this is the case, I have reason to believe that it is just the beginning of the confirmed case increase. I say this because very recently there has been a large amount of protesting in the states, millions of people gathering together. I will not comment on that of course, but I will say that it is the perfect storm. It may have just helped spread the virus even more than ever before. It is unfortunate as these predictions on markets are not just about the value of something, but it is a reflection of how bad things are. So keep that in mind. I hope this was helpful.
Stay safe all, trade safe, and stay healthy.
Thanks for reading.
- Max K.
I do not typically do any analytical content out side of cryptocurrency, but with the state of the markets and everything happening I thought I would take a look. This analysis is just a simple thought process so do not trade based off this.
S&P 500 in Elliot Wave Correction. This seems to be a possibility. After the unfortunate spike in the confirmed cased of Covid19, the market took a hard hit, again. This new wave of cases is possibly linked to the increased crowds, parties, and gatherings for memorial day a couple weeks ago. If this is the case, I have reason to believe that it is just the beginning of the confirmed case increase. I say this because very recently there has been a large amount of protesting in the states, millions of people gathering together. I will not comment on that of course, but I will say that it is the perfect storm. It may have just helped spread the virus even more than ever before. It is unfortunate as these predictions on markets are not just about the value of something, but it is a reflection of how bad things are. So keep that in mind. I hope this was helpful.
Stay safe all, trade safe, and stay healthy.
Thanks for reading.
- Max K.