I am forecasting an All Time High for the S&P 500 next week. See chart.
Basic rationale:
With VIX as low as it was on Friday and no breakout I think probability of a small pullback Monday, followed by a Tuesday - Thursday high volume move through both resistance areas to an all time high. Friday may have a pin to 2120 at OEX or may drive higher.
Basis for ATH forecast is Hurst cycle bottoming & alignment (blue lines to green and gold lines), RSI divergences and momentum, and liquidity flows (not pictured, see Lee Adler's liquidity analysis published at his site).
Basic rationale:
With VIX as low as it was on Friday and no breakout I think probability of a small pullback Monday, followed by a Tuesday - Thursday high volume move through both resistance areas to an all time high. Friday may have a pin to 2120 at OEX or may drive higher.
Basis for ATH forecast is Hurst cycle bottoming & alignment (blue lines to green and gold lines), RSI divergences and momentum, and liquidity flows (not pictured, see Lee Adler's liquidity analysis published at his site).
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