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Sp500 update

The timing of this trade was a little bit tricky due to the convergence of two Cycles culminating within a few days of each other . The initial projection was for a Low into the 28-29th Dec which did not occur so the Cycle was not activated and a trade was not initiated as a Low was required and the 23rd Dec had to be taken out and these conditions were not met . The second Intermediate Cycle date is due on the 2nd Jan so price will have to move lower over the next few sessions and take out the 3764 Low even if marginally we need a Low into the 2nd Jan to qualify the Cycle . The chart below examines the previous ranges and it is interesting to compare the pattern of trend moving into each of these successive Lows which is quite similar in structure to the current move down which is around six days into the 2nd Jan Low which balances against past time periods . The 3764 Low does not line up against any harmonic price points so there is a good chance that this is just a temporary resting point which looks like a small holding pattern . Also note the declining Volume which is a good indication that we are drawing closer to a significant Low . The important price level to watch on the downside is 3746 so this is a key harmonic point and if we drop into the 2nd Jan and link up within close proximity of this level it could be a strong indication for Low. From recollection there was also a secondary price level below this point which was not as strong but it would be wise to plot these two levels on your SP500 Chart and monitor them as I am looking for the 23rd Dec pivot to be taken out possibly in the next few sessions if we do make Low into the 2nd Jan.

Regarding Tesla we had a target of the 30th Dec for Low so it could be the case that Low is already in on the 29th Dec as it can be quite tricky sometimes to nail the particular date down to a single day. So as Tesla is very closely aligned to the movements in the SP500 there is a good chance that if the SP500 does move down and take out the 23rd Dec Low which is the basis of the Forecast model Tesla may also experience a pullback on the back of any weakness in the Index so if that occurs it could present a good opportunity to enter Tesla even if it pulls back marginally and only registers a higher low it could be a good entry point . It is difficult to say if Tesla is Main Low on the 29th Dec or if it has a another day worth of downside left but there two scenarios that could play out . We could either be low at current levels as the Square of nine target points towards Low at 107.50 - 107.75 so we running against this point at present so I would be looking for either a counter trend pullback to enter especially if the SP500 moves lower into the 2nd Jan this could trigger some weakness in Tesla and allow us a discounted entry point . Once the Main Low is established in Tesla I will map out the minor and Major turning points and try to prepare a Curve that will give us some points to either enter or exit Tesla - as the Main trend is projected up into the 10th Feb from recollection we have around 42 days of upside left before our position becomes at risk so it would be wise to have an entry strategy based on the pullback Cycles so hopefully once I prepare the Chart we should be able to determine some key dates and then wait for the market to pullback into these points which will allow us to pyramid and scale our positions up into the Top . I will hopefully be finishing work in the next two weeks so during that time I will try to continue to provide regular updates on these instruments and after that I will be able to concentrate all my time and energy into the website and Market Forecasts with the intention of covering more instruments in detail such as Currencies and perhaps Gold and some other popular Stocks . Also it is very IMPORTANT to keep an eye on Crude Oil which could be in line to make Top on the 3rd Jan which was outlined in the Crude Oil post about a week ago so it would be wise to revisit that post and even print it out as a reference guide so it is clear and keep a close eye on price over the next few sessions as we move into this point .

Regards Grant

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Till now the Dec 28th/29th low is holding........!!!!


Archana Vohra
Archana Vohra
Dec 30, 2022

The market is closed on Jan 2, so does that mean the low is on Jan 3?

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