E-Wave for the S&P 500 Index

[gdl]

I myself have no idea if we drop here or next year. it seems we are destined to fall hard however. I question the irrational nature of the market like i have on the pandemic and inflation data points from last year. the DOW is now close to a 61.8% retrace. that's insane! Can it get even closer to recovering all of the drop before next year?

Hey, when the Pandemic hit the street totally ignored it. irrational to the extreme.
I think this is another example of a crash style setup. There is NO economic theory or expectation the earnings picture will get better for all of 2023 yet we are over 16 trailing P/E here? A bottom?

the dollar is sliding and is now at 109. that can help overseas profits somewhat. BUT the data is so so so much stronger in USA than most places on this planet. the dollar slide is irrational, like the 10 year note at half the yield it is today.

No matter how much analytical thinking i can do in anticipation of future economic conditions the market still moves by it's own choices. I point out the huge disparity. It can get even bigger and YES we can rally till Year End again.

I was a computer programmer/analysts and system data base administrator. My thought process requires concise evaluation. that's how I am. When i see the path is opposite i say so. My analysis can be flawed but if i have the LOGIC correctly it has to revert eventually to the norm.