SP:SPX   S&P 500 Index
4
Same chart as last week. The 100MA did provide some resistance and Monday's high remained the high of the week until Friday. Here, however, while the daily is up against hte 200ma, the weekly & monthly still have a little room for their important MAs (50 on Weekly and 20 on Monthly). Furthermore, there is a Harmonic BAT on the daily that is coming near target at 2050.86. Targets are not always met. While many charts look fantastically bullish here, I feel we are nearing the end of this move. Price can certainly churn around as it did last fall for some time in this range. I also see a potential pattern that would have price reconnect with the 20ma on the daily. We'll see - it's just nearing the area where it's invalidated.

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