Saturday, 1 January 2022

Positive end to a positive year

 


 
Summary

The SPX ended the year on a positive note, settling net higher for December by +199pts (4.4%) to 4766, having printed a new historic high of 4808. The December candle is bullish engulfing and leans distinctly s/t bullish. 

For the year, the SPX saw a net gain of 1010.11pts (26.9%). The m/t bullish trend could be expected to continue into (at least) April/May.

I would note the key 10MA at 4381, which will jump/adjust to the mid 4400s as of the January 3rd open. Monthly price momentum ticked subtly upward in December, and remains on the high side. Even if momentum cools back, it should remain net positive until at least April/May.

Holding at MARCON 7.

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.