Projection of the market based on long term analysis since 2000. that broke to the upside in May 2013 and has reached the Fibonacci resistance.
I think you are onto something here jzucchetto- altho' the QE FED Quants keeps trumping much of the analysis on the daily time frames- No doubt monthly trend-change based on fibs, and other technical analysis that you have outlined make it look dangerous to be long here. Cogent- imho- Good Luck trading it !!
A harsh fact if you truly have spent hard earnt money trading based upon fibo and other fancy stuff, you will likely discover that the fancy toys like fibo and indicators are only great when you look back, not look forward. I doubt many people on tradingview would really understand this point unless they truly went through such experience. Be a trader, not a crayon artist. Trade what you see, not what you predict. What will likely happen to spx is it will pause at 2145, retrace a little, keep flat for several months, and break resistance eventually. The emerging markets will lift everything. Go to see the big picture, not indicator.
I posted this chart as an overall market analysis and opinion. I'm not looking at specific resistance number or when to short. This is monthly chart so it means long term investment. I would not be long spx if I was to hold for a few months. I would be short as I see corrections should happen around this level. Trade small, trade often! Happy trading!