There is a probability of formation bullish for the SPX. the neck of the cup is 2714 The economic outlook with higher WTI price and more profitable fracking added cash flow to the economy with good employment and still low interest rate that this could devellop. The Stop loss is at the bottom of the handle 2615 a break lower would invalidate this pattern.Trade...
Before the inauguration is some major earning report that push me tho think that the recent retracement would lead to a bit of more upside before the next retardement nothing major from 5065 t0 5077 then the pullback.
full Fib retracement is done we are going into new High for the Coronation of Trump Jan 20 2016 NQ new Highs will be made 5050 is the number to reach after that a new pullback could be possible in this strong solid Bull Market.
The 5.30% sell off now it iast retracement from last high t the .68 retracement after the 9 days selloff RSI is at the low statistic say that last 9 days selloff 36 year ago had a 0.24% rise 5 days after the selloff targeting 4800 then 5024 for the xmas rally and the fed not raising rates till 2017.