The SP500 is in long consolidation and it looks like it is near to its end.
I am considering two scenarios:
1. After debt ceiling deal – when they increase debt limit – the price will break up as a bull trap and will bounce from the next resistance. It will fuel the price to push to the targets – near pandemic bottoms.
2. The price, after the deal, will do correction of last decline and will continue to drop till meet the targets.