Heading into the long weekend, SPX
manage to cover some weekly loss along side with oil
. But the rally doesn't seem like impulsive. It looks more like a 4th wave correction that could lead us to 1880 area. Next week, Be extra careful about this resistances area. If we manage to go through it convincingly, it is safe to say that the correction since last year is over. If not, there is finally push down ahead of us that is labeled in the chart.