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SPX bullish short term (followed by a correction)

Long
S&P 500 Index (SP:SPX)  
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SP:SPX   S&P 500 Index
Trend Lines Moving Averages S&P 500 (SPX500) SPDR S&P 500 ETF (SPY) sp500index sp500analysis spindex
4
4
trendline movingaverage spx500 spy sp500index sp500analysis spindex
Expecting SPX to move up from here since the 5 EMA crossed above the upper limit of the latest downwards channel. Target is the upper limit of the red channel (above the 80 EMA). Hereafter expecting price to correct again to the downside after the 5 EMA breaks out of the red channel.

A close back below the last green channel invalidates this idea.

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