When I wrote my post of August 6, 2018, the SPX was trading at 2840.35. I had projected either a push higher towards 2900, or even 3033, or a pullback to its first Fibonacci Speed Resistance Fanline support around the 2400 level. Also contained in that post, were a couple of technical gauges to monitor strength/weakness and trend.
Since then, the SPX:
- continued a tepid, choppy rally, to exceed its first target (2900) and hit a high of 2940.91 on September 21
- eventually reversed course to exceed its second target (2400) and hit a low of 2346.58 on December 26
- abruptly reversed course and rallied towards its third target (3033) to hit a new all-time high of 3027.98 on July 26, 2019...just 5.02 points shy...for a gain of 20.7% from January 1 (28.7% from December 26)
- the World Index excluding USA
- the US dollar
- 30-Year US Bonds
- Gold Futures
- hedged risk in the SPX with Gold & Bonds on a year-to-date basis
- more heavily favoured Gold, Bonds, & US$ during Q3
- taken a tepid interest in other world markets during September
- renewed their interest in Bonds & US$ during the past week, while taking some profits in Gold, SPX & other world markets
* UPDATE December 29...
The SPX managed to hit my Q4 target of 3233 by the end of the year, as I outlined in my post of December 29.
And, so, as I asked in my post of December 24 [one-day $34.4 Bilion U.S. retail sales and $17 Trillion global market gains (21.68%) this year], "What's not to like, Joe?"