harmonic pattern xabcdharmonic pattern activated and we may see a good move till marked levels, and we can also find reversals from these levels. So keep in mind these levels.
Indices Europe
Comparison of leading markets to anticipate the future movementAn attempt to anticipate the future movement of different markets over next 5 to 10 years. If we see the movement of 6 markets, we can have some insights.
Among the 6, Germany (DAX- purple) and India (NIFTY50 - red) look like being in the middle zone of the direction of movement since 1991.
Hong Kong (HSI - green ) came down gradually from around early 2018 to 2022, now looks at a fair level (may fall further to form a bottom).
USA(DJI - blue ) has recently started falling after forming a sharp peak, I am expecting a fall probably to 27500 levels or may go to 22000.
India (Nifty50 - red ) looks bullish for long term but may see a pullback to 15000 levels or even to 12000 levels in coming years.
UK (UKX - yellow) looks sideways and lacks long term strength as evident in the economy in recent times for United Kingdom.
France (CAC40-brown) looks sideways from a long term perspective.
Germany(Dax-purple) looks the most balanced in terms of bear and bull phases.
Overall it looks like the bear phase has started for most markets and it may take several years for healthy bull phase to be back.
CAC 40 indexCAC 40 Index in day Time Frame is looking nutrual after war situation. I think it will consolidate here for 2 months after that I consider market will gave breakout and we can se further up move. This is only for education purpose, not any buy or sell recommendation.
What will SPX do today?All markets globally have been showing a pattern. For example - UKX, DAX, CAC40 - They open gap-down and then consolidate.
What will SPX do? I think it should follow something similar.
CAC ..........7000 or reversal on the cards ???On Daily Chart seems to be marching towards 6900+
All chances of a pull back from near 7000+
Be cautious at higher levels
