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January 10th, 2021: SP-500 Years 2009-2010 to 2020-2021 Comparison

Posted by pugsma on January 10, 2021

As many have pointed out, year 2020 was almost a carbon copy (identical) to year 2009. So what IF year 2021 plays out like 2010? Below is how 2021 would look from wave count and SP-500 target level if it mirrors 2010.

Clearly I would need to adjust my existing primary (white/green) to show the major [3]-P1-C3 wave still on going, but nearing an important top between 3845 and 3900 in mid-January. Then a major [4] correction to the 3500 area into mid-Feb. Followed by a final wave up for major [5] the 4142 to 4200 area into the April-May time frame. Then a sharp P2 correction to the 3400 area into July. Finally the P3 wave up would make new all-time highs in to year end 2021 and beyond.

This is a wave count to strongly consider…

SP500 Technical Analysis

8 Responses to “January 10th, 2021: SP-500 Years 2009-2010 to 2020-2021 Comparison”

  1. j99becker said

    Great analog, Steve!

  2. Ralf Engel said

    Your advice seems to play out. Your comparison is very helpful and a good advice for further journey on spx.
    Have a good start in the week, great job done, thanks.

  3. MS53 said

    πŸ‘πŸ‘

  4. Jim Guthery said

    Is it possible that 3826.69 is top and we work our way to 3500 now? Or is this number not close enough to 3845?

    • pugsma said

      Yes, it is possible 3827 is the alternate (blue) major [3] top and and major [4] correction to a 23%/38% Fibs of 3583 to 3424 or a -6.8% to -10.5%

      • Jim Guthery said

        In your opinion which would be the more likely outcome coming off a (3) top? I was leaning more towards 38% but I have a tendency to get lost real quick as these moves happen so fast.

        • pugsma said

          The -10.5% correction to the 38% Fib for major [4] at 3424 would not surprise me. The rising 200-day SMA should be in the 3400 area by the time major [4] were to reach that target area.

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