Incoming months for S&P500
A mid-year check of the S&P500 futures ES1! show an uncanny resemblance to the beginning of 2008. This has been reiterated by many already over the recent months, and it appears to continue as outlined by others too.
In the monthly log chart, there is an eerie resemblance that might bring the S&P500 to 2600-2800 levels, if by a similar magnitude to 2008-2009.
Market conditions are different, but even on a longer term monthly chart, you see the uncanny comparison.
Do not know what to make out of this, but on a probability basis, only two major outcomes...
First, is that it would follow similarly, hence 2600-2800 becomes a reality.
Second, it would break the pattern, and this would take something rather extraordinary to trigger it.
Either way, in the coming months, we can be expecting a single or a series of extraordinary events that would put the above two outcome scenarios in play... watch for it!
In the monthly log chart, there is an eerie resemblance that might bring the S&P500 to 2600-2800 levels, if by a similar magnitude to 2008-2009.
Market conditions are different, but even on a longer term monthly chart, you see the uncanny comparison.
Do not know what to make out of this, but on a probability basis, only two major outcomes...
First, is that it would follow similarly, hence 2600-2800 becomes a reality.
Second, it would break the pattern, and this would take something rather extraordinary to trigger it.
Either way, in the coming months, we can be expecting a single or a series of extraordinary events that would put the above two outcome scenarios in play... watch for it!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.