If you believe in infinite behavioral repetition, then you believe:
1 - 1980/1914 will hold as it did many times over 2 years (on 125d ema or after 50/61.8% retracement)
2 - The Santa Claus rally will work (for the 7th time in a row)
3 - SP500 will catch up to the TOP line again (2110 in Jan, 2150 in April, 2220 in July)
I personally believe that when something becomes so widely obvious it is about to change behavior.
There are supports every 30/40pts until 1860.. All these supports could be breached for the benefit of bigger picture change of paradigm.
Pivot weekly: 2021
Pivot monthly: 2048
Supports:
(1) 1982 - 125d ema (Key)
(2) 1945 - 200d ema + 50% retracement
(3) 1914 - 61.8% fibonacci + very key diagonal trendlines
(4) 1860 - last resort
(5) 1650 area is a buy for a while at least
Invalidation this month: 2060 on daily close but the upside above that is limited to 40pts + 1pt per business day.
1 - 1980/1914 will hold as it did many times over 2 years (on 125d ema or after 50/61.8% retracement)
2 - The Santa Claus rally will work (for the 7th time in a row)
3 - SP500 will catch up to the TOP line again (2110 in Jan, 2150 in April, 2220 in July)
I personally believe that when something becomes so widely obvious it is about to change behavior.
There are supports every 30/40pts until 1860.. All these supports could be breached for the benefit of bigger picture change of paradigm.
Pivot weekly: 2021
Pivot monthly: 2048
Supports:
(1) 1982 - 125d ema (Key)
(2) 1945 - 200d ema + 50% retracement
(3) 1914 - 61.8% fibonacci + very key diagonal trendlines
(4) 1860 - last resort
(5) 1650 area is a buy for a while at least
Invalidation this month: 2060 on daily close but the upside above that is limited to 40pts + 1pt per business day.
