SPX: We will likely retest 4K late this year
Taking a simple regression of the start of the last bull trend, cutting it off at the Covid crash, then extending the 2 STD dev lines forward, it is completely obvious this market is going to blow off some steam and likely retest SPX 4K at some point this year.
I don’t doubt that we can go higher- I can see an exhaustive move to 4600 SPX in the cards over the next 2-3 months, but I get the sense this pump way past even the prior trend from Covid is being super charged by retail. Lot of signals and divergences on indicators already being pointed out by many.
This is not a “crash incoming” post, but actually more of the intent is to say, hold onto some cash and you’ll likely be rewarded with a chance to average down in the future.
Gl!
I don’t doubt that we can go higher- I can see an exhaustive move to 4600 SPX in the cards over the next 2-3 months, but I get the sense this pump way past even the prior trend from Covid is being super charged by retail. Lot of signals and divergences on indicators already being pointed out by many.
This is not a “crash incoming” post, but actually more of the intent is to say, hold onto some cash and you’ll likely be rewarded with a chance to average down in the future.
Gl!
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