Looking at a long term view of the S&P500 , the predictive/forecasting model has produced the following numerical targets:
High Probability = 2335.3
Medium Probability = 2536.0
Low Probability = 2830.1
The lower the probability of attainment, the higher the probability of reversal.
Stay tuned for this multi year chart as I will update it far into the future.
Expect a small decline for the first few weeks in 2017. The decline will satisfy the Wolfe Wave created at the Weekly level. The reaction off of the 1-4 line will be a strong one as price continues to find its path toward 2335.3 and 2536.0.
More updates to come in the coming weeks.
I'd be curious to see here how steep this leg up will go....and how quickly it will fall.
Although, looking at long term fundamentals. Interest rates are set to rise and the new administration will likely pull out of TPP. These two events could happen within the next year affecting the stock market negatively.
If the market is to reach the levels indicated in the chart, it would have to be a rather strong & quick move, relatively speaking. This is purely speculation though as I don't use fundamentals in my analysis.
For now, the forecast and targets remain in tact and in force.