Glenn Neely's forecast proves out: A NEW BULL MARKET IS UNDERWAY!

Glenn Neely has often said that Wave theory (especially NEoWave) is useful for warning you of major turns in a market. His recent forecast proves this point!

For months, Glenn Neely has been advising subscribers of his NEoWave S&P Forecasting service that the 2022-2023 Bear market would be ending soon. On June 15, 2023, he publicly - and confidently - declared to all NEoWave customers that a new Bull market is underway!

Six weeks before his June 15 announcement (on May 1, 2023), Glenn Neely shared the following update with NEoWave S&P Forecasting customers, warning these subscribers that a powerful new Bull market trend was about to begin.

In that May 1 update, he wrote "...volume flow and momentum favor the more Bullish outcome. The S&P keeps inching higher, which has pushed structure back to our prior NEoWave neutral Triangle. With time running out, this count implies wave-e will soon end with an 'explosive' rally!"
See Mr. Neely's May 1, 2023 NEoWave Forecasting below.

In his June 15, 2023, email to all NEoWave customers, Glenn Neely wrote: "The S&P's rally since early May 'proves' the 2022-2023 Bear market is OVER and that A NEW 1+ YEAR BULL MARKET started on June 1, 2023!"

What will the market do next?

Keep up-to-date with the latest developments in this important market trend! Subscribe to NEoWave's S&P Forecasting service to your financial arsenal!

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Released Monday, May 1, 2023
NEoWave FORECASTING on S&P 500

Released by Glenn Neely on Monday, May 1, 2023.

NEoWave Logic:
Neutral Triangle? (from black arrow)
Monthly charts warn large wave-c is running out of time to conclude. Therefore, we should return to our prior NEoWave neutral Triangle. by terminating wave-d before recent highs, we mainain better time parameters and wave-e (from high to low) is 38% of wave-a.

NEoWave Analysis - WEEKLY Structure
In last week's update, using Neely River technology, I wrote "... volume flow and momentum favor the more bullish outcome." The S&P keeps inching higher, which has pushed structure back to our prior NEoWave neutral Triangle. With time running out, this count implies wave-e will soon end with an "explosize" rally due in May/June. NEoWave projection rules dictate a target of 4600 before the end of June!

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