On December 29, 2019, I posted this article on the SPX which analyzed its history from 1932, and which presented a long-view forecast of what's in store for the 2020s and 2030s.
Overall, it showed that, for the most part, the SPX has been a strong BUY candidate for longer-term investors over an average of 30 years running, and that it was likely to be repeated for another 10-20 years, generally speaking, based on the following chart (each candle represents one year).
As can be seen on the following current monthly chart, price dropped a bit from that date before it began to rise, break above the long-term channel and rise again, then drop and retest the breakout level, before, finally, proceeding to form a new and steeper channel and upward trend (defined by an Andrew's Pitchfork technical drawing).
In keeping with the above-referenced bullish outlook for the 2020s, I'd expect to see the SPX trading around one of two possible levels by the end of President Trump's second term (January 20, 2029) barring any catastrophic events, of course:
- 9,500 at the upper edge of the lower 1/4 of the channel, or
- 11,000 at the upper edge of entire channel
So, we'll see what happens, and, as I explained in the above-referenced post, as long as the Technology Sector remains strong until then, one of those two scenarios is a very real possibility.