SP 500 trading result for 2022
2022.12.27 00:30
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The “long-legged Doji” of May 2022 predicted the following about the second half of the year on the: with erratic, choppy uncertainty.
The price has essentially traded sideways in a large trading zone between 3500 and 4300, as shown on the following monthly chart. Like a yo-yo, it bounces back and forth between buyers and sellers.
As it turned out, any gains, long-term or short-term, were short-lived, much like the first half of 2022.
For 2022, daily and weekly trading has been erratic, non-directional, and about as interesting as “watching paint dry.”
More Will the S&P 500 collapse
You were caught in this slow slide downwards, dominated by choppy large-scale sideways consolidations, unless you took profits during the December 2021 candle, which followed November’s bearish “shooting star” and was confirmed only by the “bearish engulfing” candle in January.
If Sellers maintain control, we may see a fourth “candy cane” form in January 2023, as I mentioned in my post of December 21. We’ll see what comes of it.
Keep an eye out—I hope to publish my annual forecast for the new year within the next few days.
