SPX - 22 Year Price Channel - I Wouldn't Bet Against It!
As you can see, this price channel along with it's median lines, has defined every major turning point for the past 22 years.
At each touch highlighted by the white arrows there has been a significant multi-year change of direction.
Noteworthy turning points on this price channel:
2000 - 2002 - Dot Com Crash
2007-2008 - The Big Short - Financial Collapse
March 2009 Low - Start of Largest Bull Market Known To Man
March 2020 High - Covid Panic
April 2020 - Low Point Before Things Got Stupid
December 2021 - Beginning Of The End????
I'm posting this because we are currently at the 1/4 median line where there appears to be some support.
I have expected the S&P to test or exceed the previous highs. Is this the point at which that move begins?
I have taken the liberty of pasting the blue candle bars to show what that would look like.
I expect any advance would not exceed the upper channel line and more than likely respect the white Fibonacci cycle line.
Hard to argue with it's predictive value!
At each touch highlighted by the white arrows there has been a significant multi-year change of direction.
Noteworthy turning points on this price channel:
2000 - 2002 - Dot Com Crash
2007-2008 - The Big Short - Financial Collapse
March 2009 Low - Start of Largest Bull Market Known To Man
March 2020 High - Covid Panic
April 2020 - Low Point Before Things Got Stupid
December 2021 - Beginning Of The End????
I'm posting this because we are currently at the 1/4 median line where there appears to be some support.
I have expected the S&P to test or exceed the previous highs. Is this the point at which that move begins?
I have taken the liberty of pasting the blue candle bars to show what that would look like.
I expect any advance would not exceed the upper channel line and more than likely respect the white Fibonacci cycle line.
Hard to argue with it's predictive value!
