Friday 1 January 2021

A positive 2020




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.