This channel is calculated with my proprietary method, it was formed based on the dynamics of the recent re-accumulation structure that we just broke out of.
As long as SPX stays in this channel it will continue higher.
minimum target = retest ATH at 4800
upper target = 5000-5200
Keep in mind this rally is a meltup to end the corrective wave off the October 2022 lows. At this point in time there is no evidence in the larger degree structure that this is the start of a new bullish cycle.
With that being said, now is a good time to play near-term calls on the way to the top, and to sell shares of equities (profitable or not) - this will likely be your last chance over the next month or 2 before the real correction begins.
Not time to short yet, that will be around 5000.
As long as SPX stays in this channel it will continue higher.
minimum target = retest ATH at 4800
upper target = 5000-5200
Keep in mind this rally is a meltup to end the corrective wave off the October 2022 lows. At this point in time there is no evidence in the larger degree structure that this is the start of a new bullish cycle.
With that being said, now is a good time to play near-term calls on the way to the top, and to sell shares of equities (profitable or not) - this will likely be your last chance over the next month or 2 before the real correction begins.
Not time to short yet, that will be around 5000.
There will be some selling pressure until at least next Wednesday, 12/27, so not time to go long yet.
If it breaks below bottom of channel downside target is 4650. It would then need to test bottom of channel and get rejected as resistance before we get a short signal.