Glenn Neely (NEoWave founder and Elliott Wave expert) has been watching the S&P intently for some time.
“Now, the S&P’s Wave structure has become so critical,” he says, “it’s important to alert people to what’s going on, so they can take advantage of a potentially dramatic New Year rally.”
Mr. Neely explains that he is seeing a "momentum phenomenon" in the late stages of the S&P's bull market.
He is looking for potentially dramatic upside market action -- "a possible dramatic market advance over the next few months."
In his just-released video, Mr. Neely steps through his three Wave charts:
- Long-term chart based on 6-monthly data -- Here, he explains that we are experiencing the tail end of a D-Wave that has been in progress for 10 years.
- Intermediate-term chart reflecting monthly data -- Here, he notes that his forecast projects an advance that will nearly reach 3500 in the S&P!
- Weekly chart showing this exciting forecast in detail -- Here, he further discusses the timeline for this potentially "powerful, dramatic, and exciting event."