SPX set to make new record high above 2900 this month
The S&P 500 is finally ready to break out and achieve record closes once again. I have identified the zone before the next pullback. The next near-term top should occur by August 23 above 2900. The green box is my starting zone for the top. The black bordered polygon will most likely contain the top. There is strong resistance in this polygon. A short drop should occur after this top before another burst well above 2925 by mid-September.
What are the real-world scenarios to likely drive this quick move up? My guess is a trade deal between the US and at least Mexico, possibly Mexico, Canada, EU, and/or China.
I still have the actual market top on pace for November 2018. This top should be above 3000, but might not make it to 3100. More to follow.
What are the real-world scenarios to likely drive this quick move up? My guess is a trade deal between the US and at least Mexico, possibly Mexico, Canada, EU, and/or China.
I still have the actual market top on pace for November 2018. This top should be above 3000, but might not make it to 3100. More to follow.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
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