ONE YEAR AGO TODAY
Timothy Sharp - Mile High Strategies
Swing King - creator of the SAR Momentum Trend Swing System.
Looking back 12-months from today, the SPX was trading in the low 2500s, after falling from a September 2018 high in the ~2950 range and falling to a December 2018 low in the ~2350 range.
It was also on this day, 1.4.19, 12-months ago that I forecast the US equities markets, even though suffering such a large 3-month decline, would push back upward to new ATHs within months (see above), rather than years, or if at all, as so many of those in the forecasting world were saying - as far as I know, NOBODY was making such a bold claim at that time.
The SPX did push upward to new ATHs and set a new AT closing high on 4.26.19 (right above) - and yet while that day was still over 2-months away, on 2.15.19, I revised my forecast to include the US equities markets pushing upward into year's end - the first chart below is that forecast - and again, I STOOD ALONE in such a forecast.
The US equities markets did push upward into year's end, though have still not yet reached my upward target of ~3290, as you can see from the second chart, last week's high of ~3258, is still some 32-points short, though I suggest prices will linger in this range for a bit longer, and that target will be attained when President Trump signs the Phase-1 trade agreement on January 15... watching.
