N0tSwift

SPX - Gap Fill, the Up to a new ATH @ 3600

SPCFD:SPX   S&P 500 Index
This looks like a likely path.

Small (<4%) drop to fill gap @ 50 SMA , then Rise PAST recent general down trend to Top @ 5 Year top of channel for year end, election euphoria for some.
Money flowing back into the market from cash.
Then down (February?) with COVID & Foreclosure issues.

*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Comment: So many interesting support and resistance lines. Time to pay attention to the market. My interpretation is likely down to 50 SMA/support and bounce up. Not sure if we cross downward trend at 3530. Looking to buy on the dip/start up, and cross at 3530.

Red 3380 - 3 Month support, 50SMA, possible bounce line to green 3 month downward trend.

Blue would represent new lower low. Overall we seem to be on a long coiling / flag pattern, and this would represent break down.

Black top - 2008-2020 Top of trend line Return to upward cycle.

Green large lower - Feb ATH pre-COVID
Positive signs. MACD pointing upward. RSI not still in normal range.
All short term IMO. I'm expecting 2021 to start out rough.

Comment: Didn't get the gap fill, 3700 line will be interesting. Can we cross and stay above? or just the same V and consolidation but delayed a few days?
Comment: 3700 top would be a break out from the 2008-2012 top of Channel

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out