TradingShot

S&P500 The elections can kickstart a +30% yearly rally!

Long
TVC:SPX   S&P 500 Index
The chart comparison doesn't need much explaining. I compare the price action on the 1W time-frame that led to the 2016 actions with today's sequence.

Both patterns are Megaphones on a descending RSI with the 1W MA50 (blue trend-line) acting as a Support on the Megaphones late stage. On the November 07 2016 1W candle, S&P rebounded, starting a non-stop rally that didn't give any important pull-back until January 2018, achieving a +36% rise!

Can S&P rebound on this week's election candle, completing the (e) leg?



Feel free to share your work and let me know in the comments section!

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Comments

Nice work here, very interesting comparison! let will see what happen!
+1 Reply
TradingShot KeepItsimpleTrading
@KeepItsimpleTrading, Thank you!
Reply
Good explanation
Reply
I think we should have a retest on EMA 50, then ATH is possible !
Reply
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