The 2019 SPX rally could be on the same general course as the late 1986 to August 1987 rally. Note that the move from late 2018 bottom to May 1, 2019 is a gain of 25.8%, exactly the same as the late 1986 to April 1987 rally.
The strong blast off of what was identified as maximum value area SPX 2693 to 2725 is a powerful hint more rally could come in the next several weeks.
The subsequent decline has been very shallow and narrow - more evidence of the markets bullish bias.
FOMC could change the bullish bias. If SPX is trading above the short term high at 2910 after 6/20/19 it could be another sign of still higher prices to come.
SPX could reach 3300 by late August to early September 2019.
If the SPX exceeds 2910 I will have more detailed posts explaining this forecast.
Mark
The strong blast off of what was identified as maximum value area SPX 2693 to 2725 is a powerful hint more rally could come in the next several weeks.
The subsequent decline has been very shallow and narrow - more evidence of the markets bullish bias.
FOMC could change the bullish bias. If SPX is trading above the short term high at 2910 after 6/20/19 it could be another sign of still higher prices to come.
SPX could reach 3300 by late August to early September 2019.
If the SPX exceeds 2910 I will have more detailed posts explaining this forecast.
Mark