SPX November to May Continues (Chapter 3)

18 ก.พ.

After scary October, we began this new monster rally. Santa Claus and January effect? Both were on time. Then reports of a "Market Trifecta" were rampant - some saying we would, others saying no, the first part of it wasn't there. Poppycock!

Here we are, just 16 weeks after the last daily low... You may have seen the last couple of these Ideas, so here's one more. Will this be my "Trifecta" of ideas on TradingView? We shall see.

Most of the lines on this chart are drawn with Fibonacci patterns. So if you don't believe in human nature, this may look like smoke and mirrors to you.

Predictions of further upside are common. Do your own research. One report says the market on average rises by 11% in election years. Using the open of the SPX on January 2nd at around 4750, eleven percent up from there is 5272.50 and that may be conservative.

usatoday.com/money/blueprint/investing/stock-market-forecast-next-6-months/
morningstar.com/news/marketwatch/20231231115/ed-yardeni-12-reasons-why-youll-see-the-sp-500-at-5400-in-2024

You see the lines on my chart and they extend up to around the 5400 area. BofA said 5000 in 2024 and my call matches Morningstar, for what it's worth.