Hi YXI friends,

Today, we are going to go through all of the charts in the market data & exchanges sector. There are several trade ideas in this piece. If you haven’t had a chance, please read Part 1 of our analysis, in which we go through valuation comparisons across revenue and profit multiples.

The main method we use is the Elliott Wave Theory coupled with Fibonacci levels. There are many other methods and indicators one could also use. In truth, all technical methods are just visual pattern recognition using different tools, measuring the impulsive human emotions between fear and greed.

Moreover, technical analysis is subjective. There isn’t a single right answer until in hindsight, even though people can often converge in their opinions. This is because, if there is a single right answer at all times, the market will front run it and self-fulfil much faster than we can analyse. The market is a series of ever-evolving probabilistic events that thrive on divergent opinions. There are always twists and turns that catch many participants by surprise, which is how opportunities are created.

Let’s dive in!

DISCLAIMER: This newsletter is strictly educational. Any information or analysis in this note is not an offer to sell or the solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice and nor should it be relied upon to make investment decisions. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice.

1. SPGI: S&P Global

SPGI Monthly (https://www.tradingview.com/x/BU40lN7V/)

SPGI is the oldest listed company in this coverage, its chart going back as far as 1968. What’s stunning about SPGI is the smoothness of its run ups over multi-decade periods. The most severe pullback was the financial crisis, where wave circle-2 of III retraced over 50% of the wave circle-1 of III

Today, we should be in wave (5) of circle-3 of III, with the target being around $830.

SPGI Daily (https://www.tradingview.com/x/tiipsF8U/)

Within wave (5) of circle-3, we are progressing through the heart of wave 3 of circle-iii of (5)

2. ICE: Intercontinental Exchange

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