Updated

SPX - Gap Fill, the Up to a new ATH @ 3600

This looks like a likely path.

Small (<4%) drop to fill gap @ 50 SMA, then Rise PAST recent general down trend to Top @ 5 Year top of channel for year end, election euphoria for some.
Money flowing back into the market from cash.
Then down (February?) with COVID & Foreclosure issues.

*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*

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So many interesting support and resistance lines. Time to pay attention to the market. My interpretation is likely down to 50 SMA/support and bounce up. Not sure if we cross downward trend at 3530. Looking to buy on the dip/start up, and cross at 3530.

Red 3380 - 3 Month support, 50SMA, possible bounce line to green 3 month downward trend.

Blue would represent new lower low. Overall we seem to be on a long coiling / flag pattern, and this would represent break down.

Black top - 2008-2020 Top of trend line Return to upward cycle.

Green large lower - Feb ATH pre-COVID
Positive signs. MACD pointing upward. RSI not still in normal range.
All short term IMO. I'm expecting 2021 to start out rough.

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Didn't get the gap fill, 3700 line will be interesting. Can we cross and stay above? or just the same V and consolidation but delayed a few days?

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3700 top would be a break out from the 2008-2012 top of Channel

N0tSwift

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N0tSwift