G20 is in progress but the market already predicts a negative outcome
It will be very interesting to see how the market reacts on Monday the 3rd. As of no Saturday the 1st President Trump is having dinner with President Xi of China. The stock market on Friday was in a holding pattern awaiting the result on Monday to react. But the Elliot wave analysis of the $SPY says that the market is going down. If you see the chart below the $SPY is coming to the end of the 5 th wave on an uptrend and by the way that is also the long term trend, as I believe we are on the 4th wave in the 5 wave and doing side ways correction for a while.
In the chart above you can see the dotted yellow line is the move that is expected to happen. Which means that the outcome of the G20 is already doomed! But that would mean that the cart is in front of the horse. Or that I am predicting future using the wave theory. It sort of feels good to predict future 🙂
Caterpillar Inc $CAT
The Weekly chart is below AB=15, BC=7 it is coming to an end and the 30 min chart shows as the 5th wave just ending , so the next wave should be the corrective wave.