Without a doubt, the trend on the S&P 500 has been bullish. Will this momentum continue and will it breakout the 3850s today? A bullish crossover in MACD and Relative Strength now pushing above 50 indicate the probabilities are in our favor. Fibonacci extensions suggest an upward target of around 3884. That is a nice 1.5R on one lot. The volume will show us conviction in which direction it will go. Be aware of a possible fake out if the volume does not confirm.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.