S&P500 Crazy as it may seem, we may see 9000 by the end of 2026!
S&P500 / US100 is having a strong correction these past two months (August-September).
However on the wider scales such as the 1week time frame this is only a minor technical correction.
It is near forming a 1week MA50-100 Bullish Cross. Last time it formed this pattern was in September 2016 and the index never broke under either MA level. It went on to peak near the 3.0 Fibonacci extension.
Similar peak (Fib 3.0) and Channel Up leading to it (of course we can't count the COVID crash into it) on the December 2021 top.
The RSI pattern between now and 2016 is similar as well.
Based on the above and crazy as it may sound, it is a technical possibility to see the Channel Up that started in late 2022, extend into the end of 2026 and price a top near 9,000.
Previous chart:
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However on the wider scales such as the 1week time frame this is only a minor technical correction.
It is near forming a 1week MA50-100 Bullish Cross. Last time it formed this pattern was in September 2016 and the index never broke under either MA level. It went on to peak near the 3.0 Fibonacci extension.
Similar peak (Fib 3.0) and Channel Up leading to it (of course we can't count the COVID crash into it) on the December 2021 top.
The RSI pattern between now and 2016 is similar as well.
Based on the above and crazy as it may sound, it is a technical possibility to see the Channel Up that started in late 2022, extend into the end of 2026 and price a top near 9,000.
Previous chart:
Follow us, like the idea and leave a comment below!!
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