ORIGINAL COMMENT: This is a monthly chart of SPX . I believe the market is topping out and will correct prior to reaching 2000. I see shorting possibilities coming with a retracement to a previous (FIB .764 ) which could become a with a further projected drop to .618 (mimicking two previous rertacements (Harmonics). I'm new and learning. This is my 1st go at this, all comments welcome (I want to learn).
Look at this chart on a log scale back to the 1967-1975 period... we are in a secular bear market, the fed owns all the bonds and long term capital management come to mind... (not that they lasted very long) with their nobel prize winning economists and owning all of a market.. sound familiar? bonds perhaps? lowest interest rates in >220years? sustainable? no..... but don't fight the tape - it is a quick way to the poor house
I hope it does make a new high as you said but hopefully after a 5% drop first, if it makes a new high in October then great! it will be divergent and a great time to short... having a long term view and trading are two completely separate things as you know... this is purely a guessing game at this stage on long term charts, the market will tell us in due course. Because I believe it may be a top forming, does not mean I am short