By looking at the weekly and applying a Fibonacci measured from the pre-2008 crash into the 2009 low, we can create future price targets.
Isn't math neat? ;)
You can see the 1.618 level held as strong resistance before finally breaking through upon Trump's sweeping electoral victory.
The next target is 2.618 or roughly 3040.
Indicators are bullish and prices are already at all time highs but not quite to 3k. More room to run.
We could see a slow melt up to 3000 before pulling back.
Isn't math neat? ;)
You can see the 1.618 level held as strong resistance before finally breaking through upon Trump's sweeping electoral victory.
The next target is 2.618 or roughly 3040.
Indicators are bullish and prices are already at all time highs but not quite to 3k. More room to run.
We could see a slow melt up to 3000 before pulling back.
Comment:
Hey, what do you know. SPY hit the target and now we have a retrace.
Took all of the King's tweets to get us to this point...