SPX 8,808 May Still be too Low

Below is my MASTER CHART – the SPX weekly – and how I define bull markets and bear markets…

The UTL that defined the previous bull market, where the SPX rose from the 1974 low of ~61, to the 2000 high of ~1553 (25.46 X)… though the line itself ran from 1975-2000…

 

 

The current bull market started from a low in 2009 of ~667, though the UTL doesn’t start until 2010, and I drew the extra UTL because I anticipate another lower-low on the momentum indicator line in 2020, like in the previous cycle in 1982…

In previous projections (4.29.19), had upward targets of ~5,071, ~6,539, ~8,007 and ~8,808, though based on the previous cycle, those targets are probably still too low…

 

Link to larger chart:  Link 

 

If I allow a .618 Fibonacci value of the previous cycle, that would give a multiplier of 15.73 X, for an upward target of ~10,492…

The price explosion in the last cycle was in 1995 with the third touch of the momentum indicator line onto its UTL, where the SPX rose from ~443 to ~1553 in five years (~3.50 X)…

There’s plenty of time to re-assess and make adjustments to targets between now and 2032; I just wanted you to see why I’m so long-term bullish on the US equities markets… watching.

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