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On March 29, the Wall Street Journal quoted a spokesman for the US Strategic Command as saying that several B-2 stealth bombers had flown from a base in Missouri to the US military base on Diego Garcia Island in the central Indian Ocean this week. Several strategic transport aircraft and refueling aircraft also arrived at the same time as the B-2 bombers. Diego Garcia Island is located at the junction of many routes in the Indian Ocean and has a very important strategic position. During World War II, it was a British air force base and an important naval port. After the United Kingdom and the United States signed an agreement in 1966, the United States leased Diego Garcia Island from the United Kingdom and established a large airport in the west of the island, which became an important base for the United States in the Indian Ocean. During the Gulf War, the Afghanistan War and the initial stage of the Iraq War, the US military launched air operations from Diego Garcia many times.March 29th news, On March 29th, at the 2025 Suzhou Sushang Conference, the "Suzhou City 2025 Action Plan for Optimizing the Business Environment" was officially released. The "Plan" launched 15 work measures around optimizing and improving the "five environments" of market, innovation, government affairs, rule of law, and humanities. The first is to create an open and orderly market environment. The "Plan" proposes to build a "financial supermarket" that combines online and offline by upgrading the comprehensive financial service platform to provide one-stop financial comprehensive consulting services. At the same time, optimize the financing coordination mechanism for small and medium-sized enterprises, promote non-repayment renewal loans, unsecured credit loans, first loans, inclusive loans in key areas, and refinancing services, and increase inclusive loans by no less than 100 billion yuan, so as to fully cover the reasonable refinancing needs of business entities. The second is to create a higher level of innovation environment. The third is to create an efficient and convenient government environment. The fourth is to create a stable and transparent legal environment. The fifth is to create a humanistic environment that is pro-business and safe for business.March 29th, Airbus announced that the European Space Agency (ESA) and Thales Alenia Space (67% owned by Thales Group and 33% by Leonardo) the main contractor of the ExoMars project have selected Airbus to build key systems for the ExoMars lander, including the mechanical, thermal control and propulsion systems required for the landing platform to ensure the safe delivery of the Rosalind Franklin rover to the surface of Mars.March 29th news: On March 29th, the Academy of Artificial Intelligence released the cross-entity embodied brain-brain collaboration framework RoboOS and the open source embodied brain RoboBrain. This is the first time in the market. This model can realize lightweight and rapid deployment of multi-tasks across scenarios and cross-entity collaboration, promoting single-machine intelligence to group intelligence.ASEAN foreign ministers said ASEAN is ready to support Myanmars relief and recovery efforts.

Can the S&P 500 Still Reach 4300?

Steven Zhao

Mar 01, 2023 15:55


The Revision was carried on

Using the Elliott Wave Principle over several weeks, we were able to effectively monitor the highs and lows of the S&P 500 (SPX) (EWP). As a result, we discovered in our most recent update from two weeks ago that, "Thus, unless the SPX falls below Friday's bottom at $4060, we see no reason not to anticipate $4260-4295. Sorry there was no update last week, as I was on a vacation. The gauge will then likely retrace for several weeks before making a recovery to the optimal price of $4395+/-25.


Sadly, the $4060 low, which might have served as a stop loss, did not hold, and the index fell further until it reached a bottom of $3943 last Friday. Therefore, even though the EWP can be used to make many accurate predictions, nobody can always anticipate everything. Because of this, all we can do is "predict, watch, and modify as needed". We expected $4060 to remain stable. We kept an eye on it and discovered that it did not, so we adjusted our initial projections to the EWP figure depicted in Figure 1 below. So let me clarify.

When support fails, an alternative EWP option emerges

The recovery from the December bottom was not a five-wave impulse structure based on the standard Fibonacci sequence (SFFIS). Quite the opposite. When we expect a fifth surge higher, the market falters and falls short, just like all rises we've seen since 2022. As a result, we continue to work with (possible) a-b-c structures, which are much less trustworthy than the SFFIS. Welcome to Super Cycle IV, the fourth cycle in this instance. In addition, an SFFIS is frequently present if we anticipate a C-wave recovery off the December bottom.


However, the rise can only be classified as five waves if the latest "sell-off," which has been rather orderly and overlapping, is classified as an Expanding Ending Diagonal (EED) C-wave. However, because they frequently travel in contiguous a-b-c patterns and do not have as precise (Fib-based) principles as an SFFIS, diagonals are unstable. An ED can basically do whatever it wishes as long as W-3 is not the smallest and W-4 does not extend below the commencement of W-3, which is the conclusion of W-2. The EWP regulations for the EED are shown in Figure 1 above.


Thus, regrettably, with last week's extended slide into the lower end of support, we are left with two less-than-ideal tallies since the December lows: an EED vs. a bigger a-b-c. To see an alternative a-b-c, refer to figure 2 below. Both EWP numbers are far from optimal and have their problems. Sadly, this makes it challenging to express a high level of trust in regard to our main anticipation.


Not my problem. Simply put, that is the setting we are in. For additional hints to determine the likelihood of each option, we at Intelligent Investing also inform our Premium Members on a variety of other signs and plots, such as market width, trends, and mood.