Fib is the key in this pullback, which is from the top to 1.6 fib. That's a beautiful touch to get all the liquidity dating back to 12 months ago.
Fib is now again pointing to the Mega Run for Bull on the horizon. This should be very clear by the time we have a pullback (HL) to confirm intact bull sentiment.
Furthermore, Pay close attention to the Double Cycle low, we already lock it in few days ago. This double checks the MEGA bull with much better sentiment from institution, who are flocking a trenmendous amount of liquidity not only from the pumping from still opening QE, the unworking cash on the sidelides way from beginning Jan and new flow of suddently-junk-rated Russian market towards much better rating markets - of course - the SP500.
This is not something out of a suddent move. Its a absolutely master plan of market where all aligns for the valid catalyst, which is even more clear when Crypto is running hotter than ever. This digital solution for all the fud on the market surrouding the russian financial institution and financial relating sanctions appears to be extremely supperior and that operation is just a big big critial push for all the risk on assets.
Last but not least, the unfavoring price of oil is flipping everytounge of transition inflation. However, the reciprocal effect for that is a massive pullback for yield, which artificially hold down the FED intention to agressively lift the rate. This brings about the only MEGA BULL path that the openning QE may be tempting to sustain further the favouring economy but also the rate essentially stay as soft as 4 times hiking, not 7 to 9 hiking as market priced in.
Cheers,
Prof P