SPX500 - Daily

FX:SPX500   S&P 500 Index
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SPX             has been climbing out of the February hole in an impulsive fashion, not once breaking rising support and with only shallow retraces. Until significant support breaks down, my primary expectation is an impulsive move to new all-time highs. Initial resistance is likely to be seen at the trend line off the earlier highs. Should support start breaking down after only 3 waves up, then other bullish and potentially bearish alternatives will be examined.
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