When Bears like me start making charts like this, maybe we are getting a big correction soon. LOL. Or maybe I'm just manipulating the market.
Either way, the symmetry in this chart is interesting and suggests that the S&P 500 could double in the next 12 months. Is it likely? No. The thing about trajectories is they are meant to be broken.
But the current price action has turned into a parabolic shape that does seem to suggest a doubling of the index within 12 months. I'm still thinking 4180 and then drop to the 200 Day EMA around 3550 and then retest the rising trendline from 2009 at 4300 and then a bear market. All my charts have used the same basic schema for the past several months (the only reason the targets keep increasing in my charts is because the top regression lines rise with time and S&P 500 took far longer to get to 4000 than anyone in, say, late January expected, so a 3940 January target became a 4180 April target which becomes a 4300 late May target, etc).
It's good to be prepared for all possibilities - including S&P 500 basically becoming Bitcoin and going for an epic blow off top.
Either way, the symmetry in this chart is interesting and suggests that the S&P 500 could double in the next 12 months. Is it likely? No. The thing about trajectories is they are meant to be broken.
But the current price action has turned into a parabolic shape that does seem to suggest a doubling of the index within 12 months. I'm still thinking 4180 and then drop to the 200 Day EMA around 3550 and then retest the rising trendline from 2009 at 4300 and then a bear market. All my charts have used the same basic schema for the past several months (the only reason the targets keep increasing in my charts is because the top regression lines rise with time and S&P 500 took far longer to get to 4000 than anyone in, say, late January expected, so a 3940 January target became a 4180 April target which becomes a 4300 late May target, etc).
It's good to be prepared for all possibilities - including S&P 500 basically becoming Bitcoin and going for an epic blow off top.