S&P Reaching Significant Technicals

FX:SPX500   S&P 500 index of US listed shares
40 0 2
The S&P             is coming up to significant technicals: Previous Highs, which also include resistance for a Wedge Pattern, as well as a potential ellipse.
Breaking up through these offers technical trigger considerations for a move to the next significant technical level and confluence.
Several other long-term significant technicals can also be seen above the market, offering trigger considerations if they are broken or bounced off of.
IF resistance holds at the significant technicals then the ellipse pattern may still be in play, offering potential targets to look towards for a market drop.
Andrew J.D. Long, MFTA
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