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S&P500 Easing the aggression but top isn't in yet

Long
CAPITALCOM:US500   US 500
The S&P500 has been rising non-stop since the October 27th Low when the Bearish Megaphone bottomed and the long term Channel Up started the new Higher High leg.
The rally crossed over the top of the Bearish Megaphone and has already reached the 0.618 Fibonacci retracement level of the Channel Up.
The same sequence can bee seen at the end of last year (September - December), with a Bearish Megaphone bottoming and the subsequent rally topped on the 0.786 Fibonacci level.

Trading Plan:
1. Buy on the current market price.

Targets:
1. 4690 (projected contact with the 0.786 Fibonacci level).

Tips:
1. The RSI (1d) has turned overbought over 70.00 and turned sideways. Clear indication that the initial aggression of late October is fading and we should see a Bearish Divergence as the index approaches the 0.786 Fibonacci.

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Notes:
Past trading plan:


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