Looking at the chart patterns, it looks like we are starting an ABC correction.
Given the fundaments, recent highs, and going into an election at the end of this year, I suspect this ABC correction scenario will play out.
There is a bullish case which would be an interest rate drop and this could lift the markets higher, but given the recent highs, this could already be factored into the price.
With the Bearish case, we are going into the election and markets hate uncertainty, plus a possible Black Swan Event or Cyber Security issues could cause a bear market and go into a big correction. For now, I suspect the ABC correction is highly possible.
Given the fundaments, recent highs, and going into an election at the end of this year, I suspect this ABC correction scenario will play out.
There is a bullish case which would be an interest rate drop and this could lift the markets higher, but given the recent highs, this could already be factored into the price.
With the Bearish case, we are going into the election and markets hate uncertainty, plus a possible Black Swan Event or Cyber Security issues could cause a bear market and go into a big correction. For now, I suspect the ABC correction is highly possible.
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