3/2/2020 - NEoWave Staff
CORONAVIRUS & THE MARKET: What does the future hold? Read Glenn Neely's current forecast.
Read Glenn Neely's advice, which he emailed to subscribers of NEoWave Trading and Forecasting services on Sunday, March 1.
"The devastating collapse of stock markets around the world last week was precipitated by widespread fears of a global CoronaVirus
pandemic disrupting international travel, public and private services (along with manufacturing) on all continents. Fortunately, the propagation of the disease has dramatically slowed the last 2 weeks, relieving some concerns
(for the moment). Also, as spring ushers in warmer temperatures around the globe, the infection rate is likely to further decline.
"Prior to mid February, my S&P 500 market predictions
(going back as early as November and December 2019) had been pinpoint accurate
. While Wave theory
allows for the categorization and prediction of nearly all human-created events and behavior
it is NOT able to warn of (or predict) the impact of non-psychological events
such as large earthquakes, devastating tsunamis, interstellar objects striking earth, mass solar flares, and bacterial or viral pandemics. When such "out of the blue" natural or extraterrestrial events occur, their impact will distort (or force the change of) daily, weekly or monthly Wave structure and forecasts.
"This is the most serious juncture in S&P structure of the last few years.
If last week's S&P cash low is NOT broken this week, the impact of CoronaVirus will likely remain on daily and weekly charts and the bull market remains in tact. But, if last week's cash low is broken decisively this week, monthly (and maybe even 1/2 yearly) outlooks will require adjustment. Changes at the last 2 levels could be serious and may mean the entire 11 year bull market (2009-2020) is finally over. I will be covering these important issues in today's S&P Monthly Forecasting update. Don't miss it!"
As Timer Digest's #1 S&P Forecaster the last 6 months, Glenn Neely can prepare you for what's coming!
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