Hello everyone,
Not much has changed since my last [recent] post on the SPX; in this current "idea" in which I have provided, I have now illustrated my general view with respect to the remaining of our current year (2020).
Currently, the market has and will likely top-out around the 3065-3085 range (reversal from 3068 as per today's market action). I would not be surprised to now see an ~2 week long consolidative zone now form in the mid to upper 2800s to low 2900s - as a secondary loading zone - before the next break-out to eventually close upper level gaps in the 3200s.
Several months ago - which I still remain consistent on - is I believe there will be a more meaningful pullback sometime in August where we will likely test the 2700 level before eventually reaching new ATHs at some point in 2020.
In the much longer-term (12 months) there will be a day of reckoning where the lows from March will certainly be re-tested and broken, however, this will likely not occur until or near Q4 of 2021.
--
Thank you.
PS: My goal is to post 1-2x a week pertaining to the SPX as required and as my time warrants.
--
For those interested in following my analysis on a daily-basis across a multitude of categories, disciplines and stocks on my Discord channel, kindly send me a friend request on Discord @ zSplit#9971.
- zSplit
Not much has changed since my last [recent] post on the SPX; in this current "idea" in which I have provided, I have now illustrated my general view with respect to the remaining of our current year (2020).
Currently, the market has and will likely top-out around the 3065-3085 range (reversal from 3068 as per today's market action). I would not be surprised to now see an ~2 week long consolidative zone now form in the mid to upper 2800s to low 2900s - as a secondary loading zone - before the next break-out to eventually close upper level gaps in the 3200s.
Several months ago - which I still remain consistent on - is I believe there will be a more meaningful pullback sometime in August where we will likely test the 2700 level before eventually reaching new ATHs at some point in 2020.
In the much longer-term (12 months) there will be a day of reckoning where the lows from March will certainly be re-tested and broken, however, this will likely not occur until or near Q4 of 2021.
--
Thank you.
PS: My goal is to post 1-2x a week pertaining to the SPX as required and as my time warrants.
--
For those interested in following my analysis on a daily-basis across a multitude of categories, disciplines and stocks on my Discord channel, kindly send me a friend request on Discord @ zSplit#9971.
- zSplit
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.