Geofftv1

SPX - A bit more upside to go yet.

TVC:SPX   S&P 500 Index
The strong rise in SPX since DEC to reach the previous high of 2940 violates previous ideas and leaves the door open
to a new high in the near future.

Taking a longer look back this monthly chart has the 2018 high as wave III and the current impulse wave as the final cycle
wave V. Wave III = 2.618 wave I and is extended resulting in the possibility of wave V = wave I and a final wave V high
of 3054.

Note the strong divergences in RSI & Momentum as SPX approaches this cycle end!

Good Luck

What about the idea of a parabolic blowoff to 3.5k or higher in spx
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Geofftv1 Ta-Trade
@Ta-Trade, a blowoff is always possible but I doubt this would reach that high.maybe 3100 max.
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Good work! Your analysis ties in with my SPX target of 3047 as potentially strong resistance.

Mark
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Geofftv1 markrivest
@markrivest, Thanks Mark, you were right with your earlier analysis that further highs were to come.
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