Market Breadth Data******************************

Tuesday, January 14, 2020

SPX 2020

The SPX finished 2019 strong, a few points above our updated 3200 year-end target. Momentum is pushing the index higher at the beginning of 2020, as the futures continue trading within the bullish uptrend channel.

As both price and time momentum indicators are reaching overbought levels, there are two lines to keep an eye on for signs of trend reversal: the lower uptrend channel line and the trendline connecting the '18 highs:

2020 upside target: 3600;
downside target: 2550

Terms of Use

All rights reserved by the author. The material contained herein is original content and is the sole property of the author. Any commercial use or reproduction - either in part or whole - is strictly forbidden without the author's prior consent.

Disclaimer: The information provided here is for educational purposes only and does not constitute trading advice nor an invitation to buy or sell securities. The views are the personal views of the author. Before acting on any of the ideas expressed, the reader should seek professional advice to determine the suitability in view of his or her personal circumstances.