Watch out for the Wall Street bull
We have reached a moment of short-term verification. The monthly setup of 7 and 9 February is expiring these days, and therefore developments are expected at least until 17 February. The context seems to be heading towards a further bullish phase. Each retracement continues to unload the short-term oscillators, and add fuel to the upside fire. Move! Watch out for the Wall Street bull!
We don’t see any particular dangers on the horizon on the macroeconomic front, and we continue to project not a recession but a soft landing over the next few months. We therefore believe that economic growth and interest rates will continue to balance each other, and to drive up both equity markets but more moderately raw materials. Meanwhile, the dollar will tend to weaken against other international currencies. Who, on the other hand, sees a recession, default or something else on the horizon? In our opinion they are mental lucubrations, perhaps they will be right, but at the moment both predictive and contingent indicators disavow these hypotheses.
Also, the long-term trend since October, and then December turned up.
How to behave then? It’s simple to look from time to time at long-term supports which are currently far from current prices. We should be just at the beginning of a bull market as per our 10-year forecast.
10-year fractal-stock-market projections
Move! Watch out for the Wall Street bull!
The trading session of February 7 closed higher on Wall Street and at the following prices:
Dow Jones
34,156.70
Nasdaq C.
12,113.79
S&P 500
4,164.00.
In a few years many who today say that there will soon be new lows, maybe they will convert us upwards, and they will talk about the great bull market that started in October 2022. Will it be like this? We will see. As usual our predictions and statements will need to be analyzed and confirmed by the prices. Otherwise we would be the ones making mental eluvcubrations.
Here are the levels that between today and tomorrow will maintain the upward trend:
daily closures above
Dow Jones
33,581
Nasdaq C.
11,835
S&P 500
4.086.
What are we waiting for today’s session?
A raise.
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