SPX broke downtrend (HH & HL) and is on track for upswing. TF(3W
SPX500 made a higher high 3W chart (As of 6/12/22 10:50pm EST)
SPX500 is at a higher low (Last months low: 3810)
Also at ~3810:
SPX 2yr fib (0.618)= 3814
SPX500 2yr fib (0.618)= 3812
Price action is consistent with a bullish reversal. (TF:3W)
Sentiment is record breaking bearish. Most money is short or on the sidelines. A reversal would be high volume and consequently high inertia.
... good times!
Trade Safe.
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