The S&P500 is in “Wave 3 of 5” Currently!

Jim Welsh of Macro Tides sits down with Blake Morrow to discuss the markets following this week’s CPI and gives you a review of the data. He also talks about the decline in the economic surprise index, and shows you why retail sales data received a lot of attention this week.
Jim gives his Elliot Wave view on the dollar, gold, TLT and S&P500 showcasing the advance/decline line.
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[@marcin4497]

Thank you both

[@CFO-01]

This is great, thank you. Subscribed.

[@gordonnr]

Another great show! Thank you Jim and Blake!

[@alphabravo786]

Thanks Jim. Appreciate your time every week with blake. Good call on dollar, its a good pull back and i think we gonna eventually break 107ish highs before going lower imho..

[@JimWelshMacro-Market-Trends]

Can't rule out a push above 107ish but monetary policy isn't likely to be a tail wind,

[@jflats357]

Thanks guys!

[@andrewtay2001]

Thank you sir ❤

[@JimWelshMacro-Market-Trends]

You're welcome!

[@generalposter4792]

Jim is a technical analyst. Seems he has to see what is happening on the weekly. Everyone else seems to be focused on the hourly and daily. But the weekly is showing things being tired. Will see. Thanks!

[@JimWelshMacro-Market-Trends]

General - You're welcome. FWIW I use 30 minute 2 hour charts + daily. Layering time frames as an attempt at precision

[@Details825]

Aligned Jim but think we just gonna rally from here and not have that big of a PB on spx. Think we just completed it and we heading to 5400 first

[@JimWelshMacro-Market-Trends]

Wave 3 suggests another rally for Wave 5 That's when things could get interesting