My 10/27/20 posted noted the SPX could make a bottom on 10/28/20. A bottom was made on 10/30/20.
The SPX is now poised to - what I call "hit the dominos". There are three areas where there are probably stop buy orders. The triggering of the first one above the declining trendline
is close enough to move the SPX to the next buy cluster above the 10/12/20 top. Then later the cluster above the 9/2/20 top could come into play.
The SPX could in the coming week reach the 3800 area. Please see my 12/28/20 long term forecast post. I speculated a major stock market turn could occur in early 2021.
This was a time forecast not a price forecast - the potential turn could be a major top or bottom. With the US stock market now rallying in late 2020 there's a very high probability a major top could form in early 2021. If a major top forms -the next bear market could be very deep and last for several years.
Recent news in the US has been about the election. Good luck to whoever is President of the US in 2021.
Mark
The SPX is now poised to - what I call "hit the dominos". There are three areas where there are probably stop buy orders. The triggering of the first one above the declining trendline
is close enough to move the SPX to the next buy cluster above the 10/12/20 top. Then later the cluster above the 9/2/20 top could come into play.
The SPX could in the coming week reach the 3800 area. Please see my 12/28/20 long term forecast post. I speculated a major stock market turn could occur in early 2021.
This was a time forecast not a price forecast - the potential turn could be a major top or bottom. With the US stock market now rallying in late 2020 there's a very high probability a major top could form in early 2021. If a major top forms -the next bear market could be very deep and last for several years.
Recent news in the US has been about the election. Good luck to whoever is President of the US in 2021.
Mark