SPX: Monthly 'Time at Mode' analysis
Updated
The monthly 'Time at Mode' analysis of S&P500 -0.12% suggests we can top at just shy of the analysts' forecast for end of year closing price.
This which would frustrate them to no end, and possibly make them give up and turn bearish , downgrade stocks/reduce the forecast target price, or even turn 100% bearish .
That would give us the right elements for a bottom once again, at the end of this potential correction, after hitting our current target price, eventually triggering a new uptrend signal and forecast. If we do correct, and then hold the support as outlined on chart, we could have the scenario on chart, extending the upside to over 2700 by
Quite a few assumptions involved, for now, but logical I'd say.
The next couple months will confirm my thought process here, which is purely technical, but also based on Tim West's analysis and yearly forecast, which you can read in the related ideas section. Tim always has some amazing insights on the market.
My game plan would involve shorting the market against my individual stock holdings, as my 'hedge', aiming to profit from market outperformance mostly in that case. And covering shorts on a retest of support.
After February's close we will obtain more information about potential targets to validate the bullish momentum , which would aid us in finding the market top.
Good luck,
Ivan Labrie.
This which would frustrate them to no end, and possibly make them give up and turn bearish , downgrade stocks/reduce the forecast target price, or even turn 100% bearish .
That would give us the right elements for a bottom once again, at the end of this potential correction, after hitting our current target price, eventually triggering a new uptrend signal and forecast. If we do correct, and then hold the support as outlined on chart, we could have the scenario on chart, extending the upside to over 2700 by
Quite a few assumptions involved, for now, but logical I'd say.
The next couple months will confirm my thought process here, which is purely technical, but also based on Tim West's analysis and yearly forecast, which you can read in the related ideas section. Tim always has some amazing insights on the market.
My game plan would involve shorting the market against my individual stock holdings, as my 'hedge', aiming to profit from market outperformance mostly in that case. And covering shorts on a retest of support.
After February's close we will obtain more information about potential targets to validate the bullish momentum , which would aid us in finding the market top.
Good luck,
Ivan Labrie.
Note
Keep an eye on it here, we could start the correction here, or a bit later on.
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