The SPX remained well above the quarterly support at the October 31 low and has now reconfirmed the quarterly uptrend this week with the close above the September high. The SPX also broke above and so far successfully tested the monthly test/fail resistance zone and should continue higher as long as weekly support continues to hold in the coming days.
While the SPX is above the MTFZ~R and a continuation of the uptrend is expected, the QRZ at 3594/3652 and the 5YR at 3663 could stall this impulsive move. If the SPX breaks above the QRZ the next resistance confluence is at YR @ 3778, QR @ 3854 and MR @ 3862. Support is at the MTFZ~R @ 3509/3547 and the MP @ 3351. Good Luck & Trade Safe.
SPX ~ Pivot Zones
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November 19, 2020 at 12:21 am
gtoptions
SPX ~ WTFZ~Support 3514/3498 should hold, if the uptrend is to continue. GL
https://www.tradingview.com/x/df4yQSBD/
November 22, 2020 at 10:57 pm
gtoptions
SPX ~ Inside weekly downtrend confirmed last week. Weekly support should hold and continue higher this week toward the Pivot resistance confluence at YR @ 3778, QR @ 3854 and MR @ 3862.
If WS does not hold, then look for support at the MP 3351. GL
https://www.tradingview.com/x/qSGOuf27/
November 24, 2020 at 11:00 pm
retiree247
Hi GT. I’ve been following along for the last year or so and I do appreciate your work! I would also like to say hi to doctor Lee, who I did meet on Tony’s site a few years ago. Happy Thanksgiving to the both of you!
November 24, 2020 at 11:18 pm
gtoptions
Welcome and Thank you.
Happy Thanksgiving!
November 25, 2020 at 3:55 pm
Dr.Lee
Thank you sir !
Happy Thanksgiving to you
November 24, 2020 at 3:14 pm
Dr.Lee
Happy Thanksgiving GTO !
Thx 🇺🇸
November 24, 2020 at 4:25 pm
gtoptions
Thanks Lee.
Happy Thanksgiving!
November 27, 2020 at 2:29 pm
kvilia
Happy belated Thanksgiving!
November 27, 2020 at 2:37 pm
gtoptions
Thanks kvilia.
Happy Thanksgiving!
November 27, 2020 at 5:51 pm
gtoptions
Bloomberg pawing False info. Below they present a weekly chart with a daily 14 RSI. How does that work?
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Picture3-1.png?itok=AXK7E6ZI
November 27, 2020 at 5:54 pm
gtoptions
This False info is being presented by Zero Hedge and Crescat Capital.
November 27, 2020 at 6:03 pm
gtoptions
Looking closer, this is actually a monthly chart! With daily RSI….. Really!
November 27, 2020 at 6:15 pm
gtoptions
The Bullish Look of the monthly 13/RSI.
https://www.tradingview.com/x/21RNfUr4/
November 27, 2020 at 10:40 pm
gtoptions
Update on TSLA Yearly Pivot 9 ext. Pattern! 😉
https://www.tradingview.com/x/4upcwxvU/
November 30, 2020 at 5:08 pm
gtoptions
SPX continued failure at QR and a failure to hold the WP not a good sign. December monthly pivot support should hold the uptrend. I’ll post an update tonight.
December 1, 2020 at 9:23 pm
kvilia
Looking forward to the update, GT. Today was an interesting day, perhaps QR is about to be taken out.