Financial market forecasts 2020: SP 500 index medium and long term

finacial market forecast 2020

Financial market forecasts 2020: SP 500 index

Financial market forecast March 2020 using W.D. Gann’s technique and time cycles.

financial market forecast
SP500 Index 01.20.2020

Financial market forecasts: S&P 500 index medium term

The corrective action of S&P 500 Index started in September 2018 is culminated in December at 2,864 points. It has coincided perfectly with the 1X2 ascending angular support whose origin is on the minimum of February 2016 (last 1X2 vector yellow colored).

The pull-back which has its origin from early January 2019 has gradually brought back the American Index quotations to the double top formed between January 2018 and September 2018, forming a triple maximum in July last year.

Although the market has repeatedly attempted the correction path based on the distribution of prices, the prices during the monthly Set Up of October 2019 have broken up the triple top area, indicating the continuation of the upward trend.

In fact, from November onwards we witnessed a strengthening of daily yields, which has brought prices in January 2020 on the 1X1 natural angle to level 3,337, towards new absolute maximums.

New time/price targets in March in area 3,500. Conversely, with reaching level 2,825, the S&P 500 Index will indicate a medium-term corrective reversal. There are supports at level 3,190; 3,054 points.

Financial markets SP 500 Index long term

SP500 index forecast
SP500 Index quarterly 01.28.2020

As clearly shown in the slide just above, the American financial market has evolved the bull-campaign within an ascending corridor consisting of 1X1 angles and 1X1 Zero angles.

In this historical period the S&P 500 Index is carrying out price exchanges along the median axis of the bullish corridor, consisting of the 1×1 angle with origin December 2011.

The long-term trend remains still positive with resistances at level 3,523, while the supports are in area 3,230.

Only the return below level 2,800 would signal a reversal of the corrective trend in prices.

The forecast report of financial markets was created by free Top Trader software©.

Comments are closed

Check Also

Books on online trading and Forex how to do trading using Gann’s technique

Books on online trading and Forex how to do trading using Gann’s technique Books on online…