S&P500 ~ the bear market rally is in the very late stages as the last sub-waves continue to form...
The past few days the market has grabbed any little piece of news that can possibly be positive. Most traders are scratching their heads trying to figure out why the market is going up. This is what happens during a bear market relief rally. However, we've been prepared for and anticipated the rally since the low three weeks ago all based on the Elliott formation. The markets are in the process of anticipating that the Corona virus will peak out and factoring this into the price. This is good because the market is always ahead of the fundamental events that take place. In our opinion better news taking place now with the virus has allowed the wave 2 correction. But, it is also our opinion that there isn't anyway that the markets can be factoring in the recession that will take place in the months ahead with this rally. When markets finish the relief rally price will reverse hard to the downside to factor in the economic disaster that the lock down of the country wil...