Will the S&P500 make my 3900 target in a limp bull channel?

2020年12月25日

I hate trading these weak and drifty channels. If it were a stronger recent move up I'd be looking at the 618 fib extension at about 4100 as my target. Nevertheless, it's looking for a 2nd measured leg up, which would conclude at about 3900 or so. Provided it doesn't pull back below 3510, I think it will keep drifting its way to the 50 fib ext. I'll also be taking some off the table at the 382 fib ext around 3760.