NEoWave Blog
1/5/2023 - NEoWave Staff

What does the future hold for 2023? Hear Glenn Neely's forecasts for the S&P, Gold, Euro and T-Notes

NEoWave Founder Glenn Neely recently was a guest on "MarketViews with Ike Iossif and Friends."

In this highly informative 14-minute interview, Mr. Neely shares detailed forecasts, insights, and wave charts on 4 markets: the S&P 500, Gold, Euro, and T-Notes. If you are a fan of Elliott Wave forecasting, this is a don't-miss discussion!

Listen to the audio interview and view Mr. Neely's NEoWave Forecasting charts below. The charts were released on December 4, 2022 and includes Mr. Neely's NEoWave Logic and Analysis.

NEoWave charts from the interview...

Regarding the EURO:

Mr. Neely notes that he had been waiting for quite some time for a rally in Euro. Finally, we got a "violent move" in 2022 - a rally followed by a sharp decline. His wave chart projects four e-wave price/time targets for the coming months.

NEoWave Forecasting chart on EURO on December 4, 2022
NEoWave Logic:
Contracting Triangle (from black arrow)
After more than a year, the Euro finally gave us a rally larger than any other since the peak of wave-c. We can now confirm wave-d is over; as a result, we now have the ability to project min/max targets for wave-e (see 4 blue lines).

NEoWave Analysis - WEEKLY Structure
With wave-d "officially" over, we can now project the min/max price/time targets for wave-e. First, the most likely is wave-e will consume half the total time of waves-c & d (first green box). The next, most-likely choice is the total time of waves-c & d. The minimum price is 61.8% of wave-c with the maximum just under 100% of wave-c (see 4 e-wave targets).
For the latest NEoWave Forecasting on EURO SUBSCRIBE TODAY

Regarding the GOLD:

Mr. Neely expects a multi-year Bear market in Gold. He notes that wave structure is clearly Bearish and, in fact, his wave count has been definitively Bearish for a long time. In addition, he believes crypto currency will eventually impact the Gold market. Is this the best time to get into crypto? Mr. Neely gives this hint: "If you hear more bad news about crypto, that may be the time to get in!

NEoWave Forecasting chart on GOLD on December 4, 2022
NEoWave Logic:
Complex Correction (from black arrow)
Last month, I wrote "Any rally above $1,738 cash will confirm wave-2 is still forming." Cash exceeded that level a week later; so, I've moved wave-1 to September's low. Wave-2 is expected to consume all of its green rectangle.

NEoWave Analysis - WEEKLY Structure
The rally in early November has slowed down the unfolding bear market in Gold but more downside should begin to emerge by mid 2023. Even in terminals, wave-2 is likely to take more time than wave-1. With current behavior suggesting wave-2 will be a neutral Triangle, the odds are very high wave-2 will consume more time than wave-1. Once complete, wave-3 is expected to be longer than wave-1.
For the latest NEoWave Forecasting on GOLD SUBSCRIBE TODAY

Regarding T-NOTES:

Mr. Neely is confident the U.S. stock market will continue to decline for at least a few more months. What is the best strategy for Euro right now? If you are trading this market, he recommends being flat or short. "I don't think being long is wise right now," he says.

NEoWave Forecasting chart on T-NOTES on December 4, 2022
NEoWave Logic:
Expanding Triangle? (from black arrow)
Under NEoWave, when a Triangle's "pre-thrust" action gets too close to the apex point of the contracting trendlines, that Triangle must be recategorized as the non-limiting variety. So, the above Triangle must be labeled an x-wave.

NEoWave Analysis - WEEKLY Structure
Last month, I warned that if the inverted 10-year cash yield held above the horizontal, blue-dashed line, the solid blue line would be the active scenario. If cash broke 4.40% (see horizontal, red-dashed line), a quick rise in rates to 6-7% would occur and that a move to 9% would likely happen in a year or so! The slow recovery off October's low in Notes makes the red scenario now more likely than the blue scenario!
For the latest NEoWave Forecasting on T-NOTES SUBSCRIBE TODAY

Regarding the S&P 500:

"This wave chart shows that we're in the middle of a very large, upward-drifting contracting triangle," he explains. "Most Elliott Wave analysts think this is completely insane. This scenario is super Bullish long term! This fits into the extremely long-term forecast [Dow 100K] that I included in the back of my book, Mastering Elliott Wave, published about 30 years ago."

NEoWave Forecasting chart on S&P on December 4, 2022
NEoWave Logic:
Contracting Triangle (from black arrow)
The first green box measures the price of wavea and the combined times of a & b. The second green box is 61.8% of wave-a's price and half the total time of waves-a & b. IF a contracting Triangle is forming, wave-c will end soon above the low made in October.

NEoWave Analysis - WEEKLY Structure
The bottom-line last month was that "…this bear market…will end by or before late January…On the other hand, if this October's low is broken, a final "scary, news driven" price collapse will take place into early 2023, which will then be followed a major advance." The market has mostly followed the blue-dashed projection line drawn in April. The most important factor now is that time is running out for wave-c to end.
For the latest NEoWave Forecasting on S&P SUBSCRIBE TODAY

Learn NEoWave concepts with Glenn Neely's Forecasting Service.
For as low as $21/month. Choose your market: S&P, Gold, Euro and T-Notes


Follow Glenn Neely's charts on four major markets (S&P, Gold, T-Notes or Euro) and you will learn how to apply advanced NEoWave concepts on your own real-time price charts.


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