This could become a MASSIVE bullflag which can become a marketmover once it breaks out.
Details in the chart, the least i expect is 2.357. But to be honest, I think we will seek a new low.
I'm not trading SPX500 untill I see what it does with this key resistance zone. A break up means that this is an unstoppable train. If the decline becomes true, it might get a big nosedive at this point. Recession on it's way? Maybe....
Sorry for posting this late, but enough upside movement to get in still. I'm already in.
Details in chart.
Watching the weekly trendline, which could trigger a massive bullish divergence.
Details in the chart, uptrend still healthy.
Double bearish divergence, with a round bottom.
Short term long. If we break up the weekly downtrend channel it is going to rally big time.
The price is unable to break up the horizontal resistance for more than a year now. If it is rejected again, we know what the direction might be ^_^. If the horizontal resistance is broken up, this will be a big rally!
Buy the break-up, sell the break down. It won't get easier than this.
We see a nice falling wedge, which is bullish in an uptrend and the most beautiful thing of all is, that this is happening inside a bullflag! I might get into EUPHORIA mode, when I see the price action developing in the lower timeframes. The bigger timeframes give a target of at least 122, which is more than 1000 pips!