January 2020 IT Top Confirmed in Four Time Frames
Timothy Sharp - Mile High Strategies
Swing King - creator of the SAR Momentum Trend Swing System.
On 1.4.19, as the SPX had just fallen ~600-points from its September high to its December low, I was alone in forecasting it would rise to new all time highs (ATHs) in only months, and on 4.26.19, it came to fruition.
Then on 2.15.19, before my previous forecast had even played out, I revised my forecast from merely rising again to new ATHs, to that the SPX would continue rising into year's end with a very specific target, but once that target was hit in price and time, it would mark an intermediate term (IT) high in the US equities markets.
Time and price targets have both been achieved, but is that all there is for now to the upside?
My momentum work confirms that from a momentum perspective, that is all there is at this time on the 240-min, 300-min, daily, and weekly charts, and while the momentum indicator line on the monthly SPX chart hasn't yet rolled over (charts appear in order below), since February hasn't yet begun, it ended with a doji candle with a long upper shadow... an IT top is complete.
