volatile time actually, last week strong bearish, past two days bullish.
Many people do say: alot depends on the election, covid or whatever. ---------
Here just a simple technical view and very interesting in my opinion.
Actually we see the SP 500 did an exact retest on the broken ascending channel line. And more, we are nearly exact at the High from March before the covid crash ( see the two black arrows). I see now a bearsih behaviour comming days.
Targets in chart.
Thanks for your interest.
As always, just my idiea, no trading advice, trade on your own risk and trade safe.
But March's price is touching upper part of channel while now it is touching the bottom part of channel... At present this means upside potential more than downside potential.
More likely it will rise to touch upper part of the wedge, then remains to be seen if breakout to ATH.