E S&P 500 In 2021

shallow focus photograph of black and gray compass

Before we reveal the price targets for 2021, let’s do a quick recap of 2020.

The SPX broke the downside yearly target for 1 day, on March 23rd, and then advanced uninterrupted until it reached the upside yearly target on September 2nd. 3600 then acted as support/resistance until the final days of 2020, or December 21st to be exact (SPX):

The weekly targets performed equally well by consistently defining the trading range a week in advance:

We start 2021 with a blank slate and a few key support/resistance levels and angles. The yearly targets are 3000 and 4400:

Weekly momentum readings have reached extreme overbought levels:

And the daily signal* has turned bearish already. Weekly targets 3700 and 3840:

 

*Please note that the signals are provided for informational purposes only. They are in effect as of the close on Friday and may change as soon as the markets re-open.

Charts, signals, targets and data courtesy of OddsTrader.

Disclaimer: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money ...

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David J. Calloway 1 month ago Member's comment

Thanks George!