A quick long term scenario on the S&P 500

8 Des 2018

This a a basic overview of The S&P 500 on a one month time frame. Charting too completely can hinder my overall vision, so I chose a very simple strategy/method. If 3000 was the top then I believe that we will see an eventual drop to the previous all time high of 1500. There are support lines along the way corresponding to fib. levels, but I believe that we will only visit them briefly. This process will take many, many months. Most likely over a year, but timing depends on market participation and conditions. I am taking a long term position, not a day trading position.