Expecting SPX to move up from here since the 5 EMA crossed above the upper limit of the latest downwards channel. Target is the upper limit of the red channel (above the 80 EMA). Hereafter expecting price to correct again to the downside after the 5 EMA breaks out of the red channel. A close back below the last green channel invalidates this idea.
SP500 after last weeks retracement is now back pushing at the resistance level near to the market all-time high. According to Plancton's strategy of the market will break above we will set a nice long order. –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily...
Chart suggests trend possible reversal.
Simple : Only sustain trading above 2700 negate the downtrend.
The rising wedge on the daily chart shows a possible top for the S&P 500 Index. However, we may see a false upside breaking of the upper trend line. However sustain trading above 3700 may negate the downtrend.