SPX pulled back, is it going to hit all time highs now? 3245!

The SPX was due for a pullback, we had anticipated the move lower before a pop would be more extended than it was and it was driven on trade news. We did, however, curl back into the wedge that was broken and use it as support before slightly rallying throughout the past few sessions. It did not seem like the downside was over after Monday, considering we saw an 80 point drop in just 2 days, which was about 2.7% from all time high. In our previous idea we mentioned that the SPX would have a really hard time moving up without pulling back just a bit. We got our pullback but we did not expect the price to rebound so fiercely off that support structure.
Now the question is what is the move to the upside? How far can we see the price on this rally? Last time we said that we would probably come into an all-time high a new one that is, somewhere above 3175.
A measured move is 3245 based on the Fib extension.

IF the trade talks continue to deteriorate then we could see more downside in the SPX bringing price down to 3025.

Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for market activity.