SPX 4000?

9 янв. 2021 г.

The long signal at 3471 on 051120 is still valid with on the daily charts with a pivot at 3653.
On the 4hr charts, volatility is picking up with wide corrective moves and violent rallies.
This is often symptomatic when equities grind to new highs with portfolio repositioning and sector rotation occurring (US banks are rallying as an example)

Pivot 3653
As long as 3653 is supported, the SPX will continue to grind higher.
A break of 3653 will test 3481 and 3380

The Technical Analysis of the SPX is widely used a gauge for traders and portfolio managers to seek opportunities in whatever geographical markets and financial instruments they managed.

With multiple time frame bullishness and the technical picture of the SPX as of 080121, look for long term up trending equities that are making a technical breakout from a shorter term 4hr/daily set up from their corrective base. With the SPX rally since the October of 2010 post Lehman with a gain of 300% till date, a look outside of the US markets may have a greater risk to reward ratio.