S&P 500 Elliott Wave Weekly Update - Sunday, Dec. 14
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In this comprehensive video, I provide an Elliott Wave weekly update for the S&P 500, discussing the current market structure and potential future movements. I analyze various timeframes, from the grand super cycle down to the minute wave level, and highlight the importance of the 6800 support level in the SPX.
I attribute recent market volatility to options expiration and year-end rebalancing by fund managers rather than macroeconomic factors. I note that algorithms still suggest a 60%-70% probability of the market finishing higher by year-end, though there's also a 20% chance of a significant decline.
I also discuss the difference between cash and futures markets, and the impact of gamma levels and volatility triggers on market movements. I conclude by presenting multiple scenarios for the market's near-term direction and mention that the next update would be on Monday.
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Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures ...
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