SPX
is not going to crash in the Q1 or Q2 2024. I have measured that we will continue the rally atleast until the resistance zone around 5200-5800. I used fibonacci retracement to determine the rally target and the pullback target. If we topped at 5200-5800, we will most likely drop to the support area around 3500-3200. I highlighted some area in the RSI graph, if we reached that area we most likely will have a pullback. Another case is if we still continue the rally up until 7000-8000, an economic bubble perhaps, the crash would be more deadly.
Overall i think 2024 will be good for people to make money and prepare for a major crash. Stocks & crypto will be making new all time highs, the first two quartals should be fine for us. Fourth quartal will be the most decisive because of US election, could turn very good or very bad. My advice is to also follow all the latest news about geopolitical tension, we might have a world war 3 or at least a major war that will play a very big factor on the economy in general.
Prepare.
Comment:
5000 and still going strong.
Target is still the same.