Projection of the market based on long term analysis since 2000. Double top that broke to the upside in May 2013 and has reached the Fibonacci resistance.
No signs of shorting on my radar. The monthly resistance is down at 1600. The daily resistance is at 2088 which was rejected on Friday. Rising because of company buy backs.
jzucchetto
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I think for the next year we'll see a downtrend on the market
jzucchetto
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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!
Justiceisfalse
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Lots of people are looking at that 2125-2140 range as the top. I think that the weekly and monthly divergence is getting to be a little much and I tend to agree that we revisit the 1600 breakout.
pascal.lambrecht.522
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When you think we will start corrections I think soon the next weeks we need to start corrections .....
pascal.lambrecht.522
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When you think we see 1700 at sp ?
Justiceisfalse
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No idea. Play the price/action.....
SwitchcaseSwitchcase
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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.
jangseohee
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share you chart please^_^
jzucchetto
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I'm looking for a retracement to 1500 levels for the next year