The end of 2019 is fast approaching, and this being our last article for the year, we’ll take a look at the bigger picture.

For all the doom and gloom written about the markets during the last 355 days, the warnings of impending financial Armageddon, the Hindenburg omens, the Omaha Titanic syndromes, the Gamma gravity, flips  and flops, and other assorted esoterica, all the SPX did was to follow the seasonal pattern with uncanny accuracy:

The SPX is likely to finish 2019 above our upside yearly target. However, the risk profile for 2020 is less bullish. Therefore, we’ll be keeping a close eye on the bottom of the uptrend channel for any signs of weakness and trend change:

We’ll update the key pivot, support/resistance levels at the beginning of 2020.

Current signals: Daily Long, Weekly Long.

The projected trading range for the SPX in 2020 is 2560-3600.

Enjoy the holidays!