02/07 US Stocks Outlook

A Lookback

Last week our outlook did not realise exactly as drawn and we have to update the short-term count.

SP500, 4-hour Chart, Actuals

https://www.tradingview.com/chart/SPX500/eVF5Kue7-SPX500-Update/

The price action progressed faster than we envisaged having completed wave w of wxy.

Next Week Outlook

Wave x can take many shapes and what is indicated on the chart is a possibility, not a forecast. Currently, there is no high probability setup. We keep holding the assumption that the main trend is down, however the roadmap is complicated not a straight line.

SP500, 3-hour Chart, Outlook