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On July 18, Irans Islamic Revolutionary Guard Corps announced that its forces attacked US facilities in Bahrain, destroying a US unmanned surface vessel storage facility and striking an artificial intelligence center used to assist US forces in target acquisition. Iran stated that this action was a response to previous US attacks on Iranian infrastructure, including bridges, and warned that if the US continues to attack Iranian targets, Iran will expand its strikes to target US industrial, technological, and artificial intelligence-related assets in the Middle East.July 18th - According to US media reports on the 17th, the US government has notified Israel that it will send dozens more refueling aircraft to Israel, potentially escalating military operations against Iran. Axios, citing Israeli officials, reported that the US hopes to send dozens more refueling aircraft to Israel in the coming days, restoring the number to the level at the beginning of the US-Israel conflict with Iran in late February. The report stated that the US government has requested Israel to accept the additional refueling aircraft, and Israeli Prime Minister Netanyahu will make the final decision. The US currently has approximately 30 refueling aircraft parked at Ben Gurion International Airport near Tel Aviv, Israel, and a similar number at Ramon Airport in southern Israel. The report suggests that US President Trump appears intent on escalating the conflict to create sufficient disruption to force Iran to open the Strait of Hormuz and accept US demands on the nuclear issue. According to US and Israeli officials, Trump may order an escalation of the situation in the coming days.Lucid Group (LCID.O) rose 32%, marking its biggest single-day gain in nearly a year.This week, the S&P 500 fell 1.55%, the Nasdaq fell 2.9%, and the Dow Jones fell 0.93%.The Dow Jones Industrial Average closed down 406.55 points, or 0.77%, at 52,146.42 on Friday, July 17; the S&P 500 closed down 76.11 points, or 1.01%, at 7,457.66; and the Nasdaq Composite closed down 361.70 points, or 1.40%, at 25,520.24.

S&P500 Update – Has The Rally to $4300+ Started?

Alice Wang

Dec 26, 2022 16:45

微信截图_20221226163920.png

The phrase "five waves lower" became real

Using the Elliott Wave Principle (EWP), we discovered in the last update for the S&P500 (SPX) that "The predicted move down, red W-c, is underway and subdividing into five smaller (green) waves: 1, 2, 3, 4, 5." We may reduce the ideal target zone for all of the predicted black W-b from last week's "$3730-3870" to preferably $3760-3820 now that we know where the anticipated W-b precisely crested.


Fast forward to today, when the index hit $3764 and mounted an 80-p rally. Thus, the initial prediction of a further decline to around $3750 was confirmed. The five green waves of red W-c into yesterday's low are also sufficient waves to deem the slide from the red W-b high on December 13 complete. Look at Figure 1 below.

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