S&P 500 - My guess on how it tops out in April

13 ม.ค. 2021

Just a guess based on key resistance lines, rising wedge patterns, and waves. If a full on insurrection / civil war last week did not not slow this thing down, then I don't see what will until the next major earnings update. I think the smaller internal wedge will likely give us a top this week or early next and then fall to build support for the final push. I see it consolidating the last several days and so it could just completely break out to the up side of the blue wedge for an exhaustion top at the orange trend line. Then I would expect some kind of pull back to test support.

As always, this bull rally likes to do the opposite of the obvious, so take this with a spoon full of salt.