Wednesday, 31 March 2021

Positive Q1


 


Summary

The SPX ended the month/Q1 on a very positive note, settling at 3973, having printed a new historic high of 3994. The March candle offers zero sign of a short/mid term ceiling, as the m/t bullish trend could be expected to continue across April, if not much of May/June.

I would note the key 10MA at 3538, which will jump/adjust to the 3600s in April. Monthly price momentum hasn't been this high since (at least) the early 1980s.  

Holding at MARCON 7.

Friday, 1 January 2021

A positive 2020



sp'monthly9


 

Summary

The SPX ended the year on a very positive note, breaking a new historic high of 3760, and settling +134pts (3.7%) to 3756. The December candle offers zero sign of a s/t ceiling/turn, as the m/t bullish trend could be expected to continue in early 2021.  

I would note the key 10MA at 3242, which will be around 3300 in January. Monthly price momentum hasn't been this high since (at least) the early 1980s.  

Holding at MARCON 7.

Wednesday, 30 September 2020

Holding m/t bullish


 

sp'monthly9

 


Summary

The SPX broke a new historic high of 3588, but swung to 3209, and settling -137pts (3.9%) to 3363. The September candle leans to s/t bullish exhaustion. Primary downside target are the low 3100s, where the 200dma is lurking.

Considering the likely election outcome, and further stimulus, the m/t bullish trend could be expected to continue into early 2021.