Engrbytrade™ intermarket futures trading data calculations show the S&P500 is expected to see its long term upward trend continue into 2023.
A detailed review was conducted with S&P500 futures trading data to identify specific time frames when a change of direction occurred based on its relative value to the US Dollar. The result of this review revealed a consistent large scale pattern since 2006 where several points were identified as a validation of upward movement. There were only two points (1/30/07 and 4/3/21) that occurred several months before the S&P500 started to move lower. Since the low in October 2022, upward movement was once again validated on 4/4/23.
Within this 2006 to 2023 time frame of large scale pattern validation points are numerous periods of volatility, such as short term declines noted below. Prospective declines should be monitored with the appropriate data and calculations. The average decline within the follow group is 16.14%. Expectations for a decline in the coming weeks still exist, as noted on June 20, 2023.
15% decline between April 26, 2010 and July 2, 2010
16% decline between July 25, 2011 and August 8, 2011
10% decline between August 18, 2015 and August 25, 2015
11% decline between December 30, 2015 and February 11, 2016
9% decline between January 29, 2018 and February 8, 2018
19% decline between October 3, 2018 and December 24, 2018
33% decline between February 19, 2020 and March 23, 2020 (Outlier)
Stock charts courtesy of StockCharts.com.
