Today, like every first of the month, the monthly forecast has been brewed by r.Virgeel. The monthly forecast looks into the future for 24 bars, two years from now! and has demonstrated in the past to have a particularly happy touch. Obviously, I cannot make the forecast public, for respect of the paying subscribers, but I want to share a couple of interesting numbers.
First, beware the area 3780/820: if the S&P 500 crosses these levels making a monthly close below, we might be in a long term reversal. Very dangerous and not much probable.
Then, I want to share a valuable number: just to put under pressure r.Virgeel’s skills, it is forecasting a yearly close at 4350. Forecasts is always a risky business, so I take my risk.
Take note. It’s nine months in advance. As the model is adaptive and responsive, this end-of-the-year target may change in the future and I will keep you informed.