WallStScalper

Santa could get stuck in the Chimney at the ABCD 2074 target!!

SP:SPX   The S&P 500 Index
This chart shows a confluence point with my "Santa" chart at the 2074 handle.

It's the ABCD Gartley harmonic target for the 666,79 low to the top of a possible Elliott wave ABC leg up to reach 1370,58.
D comes in at the 2074 handle.

RSI is at oversold levels.... but could stay there on a monthly chart for another couple of month. Last time around in 2007 RSI hit the 79.5 area before turning down.
There is a slight divergens emerging on the RSI . It has been at 77.6418 a year ago and has twice attempted to move higher but failed to do so. At present RSI is at 76.0205

Time will tell - as always
Safe trading ladies and gents!

@BLawrenceM

Music at work:
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