New Highs As Forecast! – Elliott Wave Market Analysis
By Bennett Tindle Deceember 17, 2020
Last Thursday December 10th, our Chief Analyst Bennett Tindle published a video outlining a path to new all time highs in the markets. Specifically he was looking for a breakout in the S&P 500 and Nasdaq 100, as well as a breakout in semiconductor and technology sectors. It was a somewhat bold call, given the technical over-extension and sharp, 3%+ correction we had just experienced, yet here we are trading new highs. Surprising? Not really. In fact when viewing the market through the lens of the Elliott Wave Theory, you will see last weeks correction was entirely expected! Not only was the magnitude outlined based on our preferred form of Technical Analysis, but so was the directional nature of the correction. Where does he see the markets going from here? Tune in to find out, and be sure to visit us at TradingAnalysis.com for more information.