US Stocks Could Top in Late December 2021

Todays 12/15/21 FOMC  announcement could provide fuel for a rally and possible top in late December 2021. 

The S&P 500 (SPX) – 60 – minute chart courtesy of Trading View illustrates  some short- term bullish clues.

Late  in the 12/15/21 SPX trading session prices  pushed above a declining trendline connecting the tops made on 11/22/21 and 12/10/21.  Additionally, the 60 – minute – MACD had a bullish crossover

The prior rally from 12/03/21 to 12/10/21 lasted 36 trading hours and climbed about 218 points.  Adding these points and time  to the 12/14/21 bottom projects that the SPX could reach 4825.00 on 12/21/21,

Several blogs have noted potential long-term Fibonacci resistance in the 4860 to 4890 zone, along with a potential Fibonacci time cycle  pointing to a  major US stock market peak sometime in December 2021.

If the SPX can reach 4825  near or on 12/21/21 there’s a chance for the 4860 to 4890 to be hit before the end of 2021.  

Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Traders.com Advantage, Futuresmag.com, and Finance Magnates.

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