From the Monthly chart below of the S&P 500 Index (SPX), we could see it rally another 100 points, or so, to around 2525, before it stalls or a meaningful pullback occurs.
That price level would surpass a 200% external Fibonacci level at 2473.34 and intersect with a +1 standard deviation of a long-term regression channel from the 2009 lows.
It’s the weekend, which means Tim & Company are hard at work on improving SlopeCharts. I’ll have some new features to announce soon. In the meanwhile, I wanted to share a real-life example of how useful the Publishing/Sharing features are in the program.
Early this morning, I decided to check out who had published watch lists, and I subscribed to a few of them that looked interesting, such as “Potential shorts”……..
When looking at a shared list, the things you already follow in lists of your own are displayed as italicized symbols, whereas those which are unique are not. Thus, I focused on the non-italicized symbols and saw a number of them which were interesting, including FARM.
I’ve had a lifelong fascination with wealth and, more recently, wealth disparity (for proof, look no further than the SocialTrade stack on this very topic). I grew up in Baton Rouge, Louisiana in a happy, financially-secure, but very much middle-class family. We lived in this house: