We either have a Bullish Bat
or a Bullish AB=CD
in play. The AB=CD
would be a standard Bullish
retracement, that is also at the bottom of the current Bullish Channel
. You could get a short term short here before this thing takes off. The two PRZ's are on the chart. This could also spell a short term downtrend for the SPX
. Just something to keep an eye on.