SPX - Gap Fill, the Up to a new ATH @ 3600

6 Nov 2020

This looks like a likely path.

Small (<4%) drop to fill gap @ 50 SMA, then Rise PAST recent general down trend to Top @ 5 Year top of channel for year end, election euphoria for some.
Money flowing back into the market from cash.
Then down (February?) with COVID & Foreclosure issues.

*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*

7 Nov 2020

Nota

So many interesting support and resistance lines. Time to pay attention to the market. My interpretation is likely down to 50 SMA/support and bounce up. Not sure if we cross downward trend at 3530. Looking to buy on the dip/start up, and cross at 3530.

Red 3380 - 3 Month support, 50SMA, possible bounce line to green 3 month downward trend.

Blue would represent new lower low. Overall we seem to be on a long coiling / flag pattern, and this would represent break down.

Black top - 2008-2020 Top of trend line Return to upward cycle.

Green large lower - Feb ATH pre-COVID
Positive signs. MACD pointing upward. RSI not still in normal range.
All short term IMO. I'm expecting 2021 to start out rough.

11 Nov 2020

Nota

Didn't get the gap fill, 3700 line will be interesting. Can we cross and stay above? or just the same V and consolidation but delayed a few days?

11 Nov 2020

Nota

3700 top would be a break out from the 2008-2012 top of Channel