SPX500USD: WHY I think minor correction will happen next WEEK
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Over the past year the US-MARKET / S&P500, SPX, SPY has traded in an average or MEAN between the EURUSD and AUDJPY FOREX currencies.
Both currencies look like they are completing or about to start a minor correction
Also:
1) Indicators show SPX momentum sideways to down scenario
2) Elliott wave count is forecasting a correction, with a strong WAVE-3 (money wave) 20% upward bullish trend to follow.
IF you wat a solid prediction where the SPX500 will go on TUESDAY (UP, SIDWAYS or DOWN), monitor the EURUSD and AUDJPY and take the average between them.
YES IT really is that SIMPLE.
Short-Term = SHORT,
Mid-Term = VERY LONG,
Long-Term = SHORT...look out for big drop,
Both currencies look like they are completing or about to start a minor correction
Also:
1) Indicators show SPX momentum sideways to down scenario
2) Elliott wave count is forecasting a correction, with a strong WAVE-3 (money wave) 20% upward bullish trend to follow.
IF you wat a solid prediction where the SPX500 will go on TUESDAY (UP, SIDWAYS or DOWN), monitor the EURUSD and AUDJPY and take the average between them.
YES IT really is that SIMPLE.
Short-Term = SHORT,
Mid-Term = VERY LONG,
Long-Term = SHORT...look out for big drop,
Nota
For those who care about these things "Currency Pairs" the correct term.Best
AW
Nota
LOOKs as if both AUDJPY and EURUSD are going up, therefore at this moment SPX may continue to rise, Will check back in LATERNota
Currency pairs remain out of sequence with each other.Believe AUDJPY has already started correcting lower, however US-Markets being held up flat by lower dollar and rising EURUSD, but EURUSD is showing signs of Weakness.
If the EURUSD begins correcting and the AUDJPY and EURUSD wave align lower I would anticipate a MINOR correction in the US-Markets..... before resuming higher.
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