3/20/2020 - NEoWave Staff
WHAT DOES THE FUTURE HOLD? Take a look at Glenn Neely's wave chart and forecast.
More than 2 weeks ago, in his monthly S&P update, Glenn Neely warned that a break of 2822 cash would END the BULL MARKET. (See the March 1 chart, below.)
Since dropping below that level, the markets have COLLAPSED!
Take a close look at that S&P update, and you'll notice Glenn Neely's red note at the right side of the chart:
"Bull Market probably over if cash breaks 2822."
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In the chart's notes, Mr. Neely goes on to say:
"Mid-February, the S&P peaked 6.5 points below my min. 3400 upside target. Next, CoronaVirus began to spread beyond China’s borders, stoking fear of worldwide economic slowdown. The best-case scenario ends wave-a at 2020’s high & suggests wave-b is forming a contracting Triangle the next 12 months (see green line). Worst-case, cash breaks 2822 and the 11-year bull market is over (see red line)!"
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